Grocery Outlet Holding Corp. to Post FY2024 Earnings of $0.67 Per Share, Zacks Research Forecasts (NASDAQ:GO)

Grocery Outlet Holding Corp. (NASDAQ:GO) – Research analysts at Zacks Research decreased their FY2024 earnings estimates for shares of Grocery Outlet in a research report issued on Tuesday, September 10th. Zacks Research analyst S. Singh now anticipates that the company will post earnings of $0.67 per share for the year, down from their previous forecast of $0.68. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share. Zacks Research also issued estimates for Grocery Outlet’s Q4 2025 earnings at $0.26 EPS.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the firm earned $0.23 earnings per share. Grocery Outlet’s quarterly revenue was up 11.7% on a year-over-year basis.

Other research analysts have also issued research reports about the stock. Telsey Advisory Group dropped their price objective on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price target on the stock. UBS Group reduced their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Roth Mkm dropped their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price target for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.75.

Grocery Outlet Price Performance

NASDAQ GO opened at $16.27 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 3.31 and a beta of 0.10. The company has a 50 day simple moving average of $19.29 and a 200-day simple moving average of $22.69. Grocery Outlet has a 52-week low of $16.06 and a 52-week high of $30.41.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GO. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet during the first quarter worth approximately $25,000. Innealta Capital LLC bought a new position in Grocery Outlet during the second quarter worth $38,000. Canada Pension Plan Investment Board acquired a new position in Grocery Outlet during the 2nd quarter valued at $82,000. Daiwa Securities Group Inc. acquired a new stake in Grocery Outlet in the 1st quarter worth $127,000. Finally, Quest Partners LLC bought a new position in shares of Grocery Outlet during the 4th quarter worth about $193,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Buying and Selling at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 300,000 shares of company stock worth $5,617,000 over the last three months. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.