Analysts Anticipate Grocery Outlet Holding Corp. (NASDAQ:GO) to Announce $0.20 Earnings Per Share

Wall Street brokerages forecast that Grocery Outlet Holding Corp. (NASDAQ:GO) will report earnings of $0.20 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Grocery Outlet’s earnings, with estimates ranging from $0.19 to $0.22. Grocery Outlet reported earnings of $0.24 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 16.7%. The firm is scheduled to issue its next earnings report on Tuesday, March 1st.

On average, analysts expect that Grocery Outlet will report full year earnings of $0.89 per share for the current financial year, with EPS estimates ranging from $0.86 to $0.92. For the next year, analysts forecast that the business will report earnings of $1.03 per share, with EPS estimates ranging from $0.95 to $1.11. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Grocery Outlet.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Monday, November 8th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Grocery Outlet had a return on equity of 9.62% and a net margin of 2.58%. The business had revenue of $768.88 million for the quarter, compared to analyst estimates of $781.21 million. During the same quarter in the prior year, the firm posted $0.50 EPS.

Several research analysts have recently weighed in on GO shares. MKM Partners reduced their target price on Grocery Outlet from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft reduced their target price on Grocery Outlet from $32.00 to $29.00 and set a “hold” rating for the company in a research note on Tuesday, November 2nd. Morgan Stanley reduced their target price on Grocery Outlet from $35.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, November 11th. Telsey Advisory Group cut their target price on Grocery Outlet from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, November 3rd. Finally, TheStreet downgraded Grocery Outlet from a “c-” rating to a “d+” rating in a research note on Thursday, September 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.88.

In other news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $28.24, for a total transaction of $56,480.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Grocery Outlet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,903,563 shares of the company’s stock valued at $273,938,000 after purchasing an additional 253,560 shares during the last quarter. BlackRock Inc. grew its stake in shares of Grocery Outlet by 4.4% in the 3rd quarter. BlackRock Inc. now owns 7,852,284 shares of the company’s stock valued at $169,372,000 after purchasing an additional 327,834 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Grocery Outlet by 1.1% in the 3rd quarter. Capital Research Global Investors now owns 6,870,625 shares of the company’s stock valued at $148,199,000 after purchasing an additional 76,221 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Grocery Outlet in the 3rd quarter valued at approximately $104,570,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Grocery Outlet by 23.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,711,565 shares of the company’s stock valued at $93,984,000 after purchasing an additional 521,358 shares during the last quarter. 96.32% of the stock is currently owned by institutional investors.

Grocery Outlet stock traded down $1.27 during mid-day trading on Friday, hitting $26.18. The company had a trading volume of 24,263 shares, compared to its average volume of 835,309. The company has a current ratio of 1.88, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Grocery Outlet has a 12-month low of $21.01 and a 12-month high of $46.58. The company’s fifty day moving average is $27.70 and its 200-day moving average is $27.99. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 5.54 and a beta of -0.29.

About Grocery Outlet

Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.

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