Brokers Set Expectations for Grocery Outlet Holding Corp.’s Q3 2024 Earnings (NASDAQ:GO)

Grocery Outlet Holding Corp. (NASDAQ:GO) – DA Davidson reduced their Q3 2024 earnings per share estimates for shares of Grocery Outlet in a report released on Wednesday, September 25th. DA Davidson analyst M. Baker now anticipates that the company will earn $0.22 per share for the quarter, down from their previous estimate of $0.23. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share.

A number of other research analysts also recently commented on GO. UBS Group lowered their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Roth Mkm decreased their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Melius Research began coverage on Grocery Outlet in a research report on Monday. They issued a “hold” rating and a $17.00 price target on the stock. Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.11.

Grocery Outlet Stock Down 0.2 %

Shares of Grocery Outlet stock opened at $16.25 on Thursday. The company has a market capitalization of $1.59 billion, a P/E ratio of 25.39, a PEG ratio of 3.12 and a beta of 0.10. Grocery Outlet has a 1-year low of $15.72 and a 1-year high of $29.98. 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 business’s fifty day moving average price is $18.41 and its two-hundred day moving average price is $22.05.

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

Institutional Trading of Grocery Outlet

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet in the 1st quarter valued at about $25,000. Innealta Capital LLC bought a new position in shares of Grocery Outlet during the second quarter worth approximately $38,000. Canada Pension Plan Investment Board acquired a new stake in Grocery Outlet during the 2nd quarter worth approximately $82,000. Daiwa Securities Group Inc. bought a new stake in Grocery Outlet in the 1st quarter valued at $127,000. Finally, Bleakley Financial Group LLC acquired a new position in Grocery Outlet in the 1st quarter valued at $217,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated 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 sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s 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 sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,095 shares of company stock valued at $8,876,548. Corporate 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.