Kroger (NYSE:KR) Releases FY 2024 Earnings Guidance

Kroger (NYSE:KR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.300-4.500 for the period, compared to the consensus estimate of 4.430. The company issued revenue guidance of -.

Kroger Trading Down 3.3 %

NYSE KR opened at $50.29 on Friday. The company has a market capitalization of $36.29 billion, a PE ratio of 16.99, a P/E/G ratio of 1.96 and a beta of 0.43. The company has a fifty day moving average of $53.75 and a 200 day moving average of $50.67. Kroger has a 1 year low of $42.10 and a 1 year high of $58.34. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.36.

Kroger (NYSE:KR) last posted its earnings results on Thursday, June 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $45.27 billion during the quarter, compared to the consensus estimate of $44.86 billion. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 earnings per share. Research analysts forecast that Kroger will post 4.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

KR has been the subject of a number of research reports. BNP Paribas restated an underperform rating and set a $48.00 target price on shares of Kroger in a research report on Monday, April 8th. Evercore ISI decreased their price objective on shares of Kroger from $61.00 to $60.00 and set an outperform rating for the company in a research report on Thursday. Telsey Advisory Group reiterated an outperform rating and issued a $62.00 price objective on shares of Kroger in a research report on Monday. Wells Fargo & Company upgraded shares of Kroger from an equal weight rating to an overweight rating and upped their price objective for the stock from $58.00 to $65.00 in a research report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of Kroger from a strong-buy rating to a buy rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kroger currently has an average rating of Moderate Buy and an average target price of $55.70.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.52, for a total value of $832,800.00. Following the completion of the sale, the senior vice president now owns 77,696 shares of the company’s stock, valued at approximately $4,313,681.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Valerie L. Jabbar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.52, for a total value of $832,800.00. Following the completion of the sale, the senior vice president now owns 77,696 shares of the company’s stock, valued at approximately $4,313,681.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Carin L. Fike sold 3,929 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total transaction of $224,070.87. Following the completion of the sale, the vice president now directly owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The disclosure for this sale can be found here. Insiders sold a total of 55,796 shares of company stock valued at $3,118,767 in the last 90 days. Company insiders own 1.40% of the company’s stock.

About Kroger

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.