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

Analysts forecast that Grocery Outlet Holding Corp. (NYSE:GO) will announce $0.17 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Grocery Outlet’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.18. The firm is expected to announce its next earnings results on Monday, February 10th.

According to Zacks, analysts expect that Grocery Outlet will report full year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.75. For the next fiscal year, analysts anticipate that the business will report earnings of $0.81 per share, with EPS estimates ranging from $0.75 to $0.85. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Grocery Outlet.

Grocery Outlet (NYSE:GO) last issued its earnings results on Monday, November 11th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $652.50 million for the quarter, compared to analysts’ expectations of $652.60 million. The business’s revenue was up 13.1% on a year-over-year basis.

Several research analysts have recently issued reports on the stock. Barclays restated a “hold” rating and issued a $37.00 target price on shares of Grocery Outlet in a report on Thursday, August 15th. Bank of America lifted their target price on shares of Grocery Outlet from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Jefferies Financial Group set a $51.00 price target on shares of Grocery Outlet and gave the company a “buy” rating in a report on Tuesday, October 8th. Cowen reissued an “outperform” rating and set a $48.00 price target (up previously from $42.00) on shares of Grocery Outlet in a research report on Wednesday, August 14th. Finally, Zacks Investment Research lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.89.

In related news, major shareholder Corporate Investors Vii L. H&F sold 11,398,299 shares of Grocery Outlet stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $32.72, for a total value of $372,952,343.28. Also, CAO Pamela B. Burke sold 26,470 shares of Grocery Outlet stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $32.72, for a total transaction of $866,098.40. Insiders have sold 12,119,742 shares of company stock worth $396,557,958 over the last three months.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Grocery Outlet in the 2nd quarter worth about $1,046,000. Janus Henderson Group PLC bought a new stake in Grocery Outlet during the 2nd quarter valued at approximately $486,000. Emerald Advisers LLC bought a new stake in Grocery Outlet during the 2nd quarter valued at approximately $256,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Grocery Outlet during the 2nd quarter worth approximately $730,000. Finally, Columbus Circle Investors purchased a new position in shares of Grocery Outlet during the 2nd quarter worth approximately $417,000.

GO stock traded up $0.97 during midday trading on Monday, hitting $32.45. The company had a trading volume of 824,045 shares, compared to its average volume of 747,447. Grocery Outlet has a 52 week low of $27.75 and a 52 week high of $47.57. The firm has a 50 day moving average price of $31.91.

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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