Grocery Outlet (GO) Scheduled to Announce Quarterly Earnings on Tuesday

Grocery Outlet (NASDAQ:GO) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Grocery Outlet to post earnings of $0.18 per share for the quarter. Grocery Outlet has set its FY24 guidance at $1.14-1.20 EPS and its FY 2024 guidance at 1.140-1.200 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. 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 Down 0.4 %

GO opened at $25.71 on Monday. Grocery Outlet has a twelve month low of $23.41 and a twelve month high of $36.54. The company’s 50-day moving average price is $26.95 and its two-hundred day moving average price is $27.10. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 2.47 and a beta of 0.13. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GO. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, February 28th. Telsey Advisory Group reduced their target price on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Finally, UBS Group lowered their price target on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.44.

Insider Buying and Selling at Grocery Outlet

In related news, insider Andrea Renee Bortner sold 4,112 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $26.33, for a total transaction of $108,268.96. Following the transaction, the insider now owns 49,308 shares in the company, valued at approximately $1,298,279.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Grocery Outlet news, insider Andrea Renee Bortner sold 4,112 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $108,268.96. Following the completion of the transaction, the insider now directly owns 49,308 shares in the company, valued at approximately $1,298,279.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the sale, the director now directly owns 11,400 shares in the company, valued at approximately $330,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 506,588 shares of company stock worth $13,367,577. 4.50% of the stock is currently owned by company insiders.

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.