Grocery Outlet (GO) to Release Quarterly Earnings on Tuesday

Grocery Outlet (NASDAQ:GO) will issue its quarterly earnings data after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. Grocery Outlet has set its FY24 guidance at $0.89 to $0.95 EPS and its FY 2024 guidance at 0.890-0.950 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. On average, analysts expect Grocery Outlet to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Grocery Outlet Stock Performance

NASDAQ GO opened at $15.05 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 3.39 and a beta of 0.13. The company has a 50 day moving average of $16.81 and a 200-day moving average of $19.97. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a 1-year low of $13.60 and a 1-year high of $29.98.

Insider Buying and Selling at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

GO has been the subject of several recent analyst reports. Bank of America lowered shares of Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $17.00 in a report on Wednesday. Melius Research began coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group decreased their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday. Finally, Loop Capital began coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average target price of $19.73.

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.