Kroger (NYSE:KR) Issues FY 2024 Earnings Guidance

Kroger (NYSE:KR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.300-4.500 for the period, compared to the consensus EPS estimate of 4.440. The company issued revenue guidance of -. Kroger also updated its FY25 guidance to $4.30-4.50 EPS.

Wall Street Analyst Weigh In

KR has been the topic of several research reports. BMO Capital Markets upgraded shares of Kroger from a market perform rating to an outperform rating and raised their price target for the company from $58.00 to $60.00 in a report on Tuesday, June 18th. Telsey Advisory Group restated an outperform rating and set a $62.00 target price on shares of Kroger in a report on Monday. Wolfe Research upgraded Kroger to a strong-buy rating in a report on Friday, June 21st. Morgan Stanley reduced their price objective on Kroger from $58.00 to $57.00 and set an equal weight rating on the stock in a research note on Monday, June 24th. Finally, Evercore ISI decreased their target price on Kroger from $61.00 to $60.00 and set an outperform rating for the company in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $58.64.

Kroger Stock Down 1.5 %

Shares of Kroger stock opened at $51.50 on Thursday. Kroger has a 1-year low of $42.10 and a 1-year high of $58.34. The company has a market capitalization of $37.17 billion, a P/E ratio of 17.58, a PEG ratio of 0.81 and a beta of 0.47. The business’s fifty day moving average price is $53.21 and its two-hundred day moving average price is $53.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.45.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The business had revenue of $33.91 billion during the quarter, compared to the consensus estimate of $34.09 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts forecast that Kroger will post 4.45 EPS for the current year.

Kroger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, August 15th. This is a boost from Kroger’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.49%. Kroger’s dividend payout ratio (DPR) is 43.69%.

Insider Activity

In other news, VP Brian W. Nichols sold 2,000 shares of Kroger stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $54.53, for a total value of $109,060.00. Following the transaction, the vice president now owns 18,063 shares of the company’s stock, valued at approximately $984,975.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

About Kroger

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.