Grocery Outlet (NYSE:GO) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Grocery Outlet (NYSE:GO) issued its quarterly earnings results on Sunday. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.27, Briefing.com reports. The business had revenue of $764.08 million for the quarter, compared to analysts’ expectations of $758.50 million. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS.

Shares of NYSE:GO opened at $38.41 on Monday. Grocery Outlet has a 12 month low of $28.11 and a 12 month high of $48.87. The firm’s 50-day moving average is $41.88 and its 200 day moving average is $39.80.

In related news, insider Thomas H. Mcmahon sold 90,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $42.05, for a total transaction of $3,784,500.00. Following the transaction, the insider now directly owns 100,105 shares in the company, valued at approximately $4,209,415.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Robert Joseph Jr. Sheedy sold 12,500 shares of the company’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $37.80, for a total transaction of $472,500.00. Following the transaction, the president now owns 28,309 shares in the company, valued at $1,070,080.20. The disclosure for this sale can be found here. Insiders have sold a total of 645,202 shares of company stock worth $26,779,316 over the last quarter.

GO has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Grocery Outlet from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. MKM Partners initiated coverage on shares of Grocery Outlet in a research note on Wednesday, July 29th. They set a “buy” rating and a $50.00 price target on the stock. Telsey Advisory Group lifted their price target on shares of Grocery Outlet from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. UBS Group lifted their target price on shares of Grocery Outlet from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Zacks Investment Research cut shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating and set a $45.00 target price on the stock. in a research note on Tuesday, October 13th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Grocery Outlet has an average rating of “Buy” and a consensus price target of $46.25.

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 dairy and deli, produce, and fresh meat and seafood products, as well as grocery, frozen, beer and wine, general merchandise, and health and beauty care products; and natural, organic, specialty, and healthy products.

Read More: Google Finance Portfolio Tips and Tricks

Earnings History for Grocery Outlet (NYSE:GO)

Receive News & Ratings for Grocery Outlet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grocery Outlet and related companies with MarketBeat.com's FREE daily email newsletter.