Sweetgreen (SG) Set to Announce Quarterly Earnings on Thursday

Sweetgreen (NYSE:SG) is scheduled to be announcing its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.16) per share for the quarter. Sweetgreen has set its FY 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the company posted ($0.20) earnings per share. On average, analysts expect Sweetgreen to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sweetgreen Stock Performance

SG opened at $38.05 on Tuesday. The business’s fifty day moving average is $34.94 and its 200-day moving average is $30.92. The firm has a market cap of $4.34 billion, a P/E ratio of -46.40 and a beta of 2.32. Sweetgreen has a 52-week low of $8.64 and a 52-week high of $40.20.

Insiders Place Their Bets

In related news, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $77,228,422.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Nathaniel Ru sold 1,263 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $50,532.63. Following the sale, the insider now directly owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 1,010 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $77,228,422.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 428,334 shares of company stock valued at $15,162,663. Corporate insiders own 21.52% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley raised their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Piper Sandler restated a “neutral” rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. TD Cowen reissued a “buy” rating and issued a $43.00 price objective on shares of Sweetgreen in a research report on Friday, September 27th. Oppenheimer upped their price target on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, UBS Group increased their price objective on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.