Brokers Issue Forecasts for Grocery Outlet Q3 Earnings

Grocery Outlet Holding Corp. (NASDAQ:GO) – Investment analysts at Telsey Advisory Group raised their Q3 2024 earnings per share (EPS) estimates for shares of Grocery Outlet in a research report issued on Wednesday, October 30th. Telsey Advisory Group analyst J. Feldman now anticipates that the company will earn $0.21 per share for the quarter, up from their previous forecast of $0.20. Telsey Advisory Group has a “Market Perform” rating and a $19.00 price target on the stock. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share. Telsey Advisory Group also issued estimates for Grocery Outlet’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.62 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.22 EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at $0.76 EPS.

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

Several other analysts have also commented on GO. Loop Capital started coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Roth Mkm dropped their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Melius Research initiated coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target on the stock. UBS Group reduced their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their target price on shares of Grocery Outlet from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Grocery Outlet has an average rating of “Hold” and an average price target of $19.73.

Grocery Outlet Trading Up 5.2 %

Shares of NASDAQ:GO opened at $15.05 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.47 billion, a PE ratio of 27.87, a PEG ratio of 2.67 and a beta of 0.10. The business has a 50 day moving average of $16.81 and a two-hundred day moving average of $19.97. Grocery Outlet has a 12-month low of $13.60 and a 12-month high of $29.98.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grocery Outlet

A number of institutional investors have recently added to or reduced their stakes in GO. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet in the 1st quarter valued at $25,000. Blue Trust Inc. increased its stake in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. Capital Performance Advisors LLP acquired a new position in Grocery Outlet in the third quarter worth about $32,000. Innealta Capital LLC bought a new position in Grocery Outlet during the second quarter worth about $38,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Grocery Outlet during the second quarter valued at approximately $82,000. 99.87% of the stock is owned by institutional investors and hedge funds.

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.