Grocery Outlet Holding Corp. (NASDAQ:GO) Expected to Earn Q3 2024 Earnings of $0.19 Per Share

Grocery Outlet Holding Corp. (NASDAQ:GO) – Analysts at Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for Grocery Outlet in a research note issued on Tuesday, September 10th. Zacks Research analyst S. Singh now forecasts that the company will earn $0.19 per share for the quarter, down from their previous forecast of $0.27. 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 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.25 EPS, FY2025 earnings at $0.86 EPS, Q2 2026 earnings at $0.27 EPS and FY2026 earnings at $0.98 EPS.

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

Other analysts have also recently issued reports about the company. Roth Mkm cut their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Telsey Advisory Group cut their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group cut their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.75.

Grocery Outlet Stock Up 1.0 %

Shares of NASDAQ:GO opened at $16.44 on Friday. The stock’s 50-day moving average price is $19.18 and its 200-day moving average price is $22.59. Grocery Outlet has a 12-month low of $16.06 and a 12-month high of $30.33. The stock has a market capitalization of $1.61 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 3.16 and a beta of 0.10. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors increased its stake in Grocery Outlet by 2.2% in the 4th quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock worth $251,871,000 after buying an additional 199,926 shares in the last quarter. Vanguard Group Inc. increased its stake in Grocery Outlet by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock worth $268,628,000 after buying an additional 60,830 shares in the last quarter. 12 West Capital Management LP increased its stake in Grocery Outlet by 383.3% in the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after buying an additional 2,875,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Grocery Outlet by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock worth $79,933,000 after buying an additional 655,065 shares in the last quarter. Finally, Capital World Investors increased its stake in Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after buying an additional 2,641,016 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,335,762.54. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders sold 300,000 shares of company stock worth $5,617,000. Insiders own 4.50% of the company’s stock.

About Grocery Outlet

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.