$0.17 Earnings Per Share Expected for Grocery Outlet Holding Corp. (NYSE:GO) This Quarter

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Wall Street analysts expect Grocery Outlet Holding Corp. (NYSE:GO) to announce $0.17 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Grocery Outlet’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.17. The company is expected to issue its next quarterly earnings report on Tuesday, November 12th.

On average, analysts expect that Grocery Outlet will report full-year earnings of $0.59 per share for the current financial year, with EPS estimates ranging from $0.57 to $0.64. For the next financial year, analysts forecast that the business will post earnings of $0.77 per share, with EPS estimates ranging from $0.74 to $0.80. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Grocery Outlet.

Grocery Outlet (NYSE:GO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The business had revenue of $645.30 million during the quarter, compared to analysts’ expectations of $626.60 million. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year.

Several equities analysts have recently commented on the company. Cowen restated an “outperform” rating and issued a $48.00 price objective (up from $42.00) on shares of Grocery Outlet in a research report on Wednesday. Telsey Advisory Group assumed coverage on Grocery Outlet in a research report on Monday, July 15th. They issued an “outperform” rating and a $40.00 price objective on the stock. Guggenheim assumed coverage on Grocery Outlet in a research report on Monday, July 15th. They issued a “neutral” rating on the stock. Bank of America assumed coverage on Grocery Outlet in a research report on Monday, July 15th. They issued a “neutral” rating and a $37.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on Grocery Outlet in a research report on Monday, July 15th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Grocery Outlet presently has a consensus rating of “Hold” and an average price target of $37.50.

In related news, President Robert Joseph Jr. Sheedy acquired 10,000 shares of Grocery Outlet stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $22.00 per share, with a total value of $220,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey York acquired 25,000 shares of Grocery Outlet stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $22.00 per share, for a total transaction of $550,000.00. The disclosure for this purchase can be found here. Insiders purchased 58,530 shares of company stock worth $1,287,660 over the last quarter.

A number of hedge funds and other institutional investors have recently modified their holdings of GO. JPMorgan Chase & Co. bought a new stake in Grocery Outlet during the second quarter worth approximately $25,921,000. Wasatch Advisors Inc. bought a new stake in Grocery Outlet during the second quarter worth approximately $21,111,000. BlackRock Inc. bought a new stake in Grocery Outlet during the second quarter worth approximately $9,750,000. Third Point LLC bought a new stake in Grocery Outlet during the second quarter worth approximately $5,918,000. Finally, Wells Fargo & Company MN bought a new stake in Grocery Outlet during the second quarter worth approximately $5,421,000.

Shares of Grocery Outlet stock opened at $37.60 on Friday. The firm has a 50-day simple moving average of $35.74. Grocery Outlet has a 52 week low of $27.75 and a 52 week high of $39.56.

About Grocery Outlet

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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