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

Grocery Outlet (NASDAQ:GO) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce 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 participating in the company’s conference call can do so using this link.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results 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. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The firm had revenue of $989.82 million for the quarter, compared to analysts’ expectations of $982.44 million. 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 Up 1.4 %

GO traded up $0.36 during midday trading on Tuesday, hitting $26.14. The company had a trading volume of 211,434 shares, compared to its average volume of 1,225,436. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.52 and a beta of 0.10. The stock’s 50 day moving average price is $26.96 and its 200 day moving average price is $27.15. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. Grocery Outlet has a 52 week low of $23.41 and a 52 week high of $36.54.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GO. Telsey Advisory Group dropped their price objective on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. UBS Group decreased their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Finally, Craig Hallum upgraded 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.44.

Insiders Place Their Bets

In related news, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the sale, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Andrea Renee Bortner sold 5,522 shares of Grocery Outlet stock in a transaction on Friday, March 8th. The shares were sold at an average price of $25.83, for a total transaction of $142,633.26. Following the completion of the sale, the insider now directly owns 43,786 shares of the company’s stock, valued at approximately $1,130,992.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the transaction, the director now owns 10,400 shares of the company’s stock, valued at $301,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 506,588 shares of company stock valued at $13,367,577. Company 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.