Greggs (LON:GRG) Posts Quarterly Earnings Results

Greggs (LON:GRG) released its earnings results on Wednesday. The company reported GBX 120 earnings per share for the quarter, Digital Look Earnings reports. Greggs had a net margin of 6.96% and a return on equity of 25.41%.

Greggs Stock Up 2.0%

LON:GRG traded up GBX 32.58 during mid-day trading on Wednesday, reaching GBX 1,637.58. The stock had a trading volume of 712,561 shares, compared to its average volume of 1,993,145. The company has a debt-to-equity ratio of 79.33, a current ratio of 0.49 and a quick ratio of 0.88. The stock has a market cap of £1.67 billion, a P/E ratio of 11.61, a PEG ratio of 3.39 and a beta of 1.31. The business’s 50 day moving average is GBX 1,642.74 and its 200 day moving average is GBX 1,621.27. Greggs has a fifty-two week low of GBX 1,407.20 and a fifty-two week high of GBX 2,237.88.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GRG. Berenberg Bank reduced their target price on Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating for the company in a report on Thursday, January 8th. Jefferies Financial Group lowered Greggs to a “hold” rating and dropped their price target for the company from GBX 2,500 to GBX 1,610 in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. began coverage on Greggs in a research report on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 price objective for the company. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of GBX 1,845.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 shops nationwide and approximately 33,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.