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.Persons that are interested in participating in the company’s earnings 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 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The business had revenue of $989.82 million during the quarter, compared to analyst estimates 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 Price Performance

NASDAQ GO opened at $25.71 on Monday. The company has a market cap of $2.57 billion, a PE ratio of 32.54, a P/E/G ratio of 2.47 and a beta of 0.13. Grocery Outlet has a 52-week low of $23.41 and a 52-week high of $36.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.43 and a current ratio of 1.35. The firm’s 50 day moving average price is $26.95 and its 200-day moving average price is $27.10.

Insider Buying and Selling at Grocery Outlet

In related news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director now owns 11,400 shares in the company, valued at approximately $330,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas F. Herman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the sale, the director now owns 11,400 shares in the company, valued at $330,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas F. Herman sold 1,000 shares of Grocery Outlet 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 owns 10,400 shares of the company’s stock, valued at $301,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 506,588 shares of company stock worth $13,367,577. 4.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GO. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Wednesday, February 28th. UBS Group decreased their price target on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Telsey Advisory Group cut 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 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 issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.44.

Grocery Outlet Company Profile

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.