KeyCorp Equities Analysts Decrease Earnings Estimates for Dollar General Co. (NYSE:DG)

Dollar General Co. (NYSE:DG) – Equities researchers at KeyCorp lowered their Q3 2024 earnings estimates for shares of Dollar General in a research note issued on Sunday, September 17th. KeyCorp analyst B. Thomas now anticipates that the company will earn $1.28 per share for the quarter, down from their prior forecast of $1.45. The consensus estimate for Dollar General’s current full-year earnings is $7.79 per share. KeyCorp also issued estimates for Dollar General’s Q4 2024 earnings at $1.96 EPS and FY2024 earnings at $7.70 EPS.

Dollar General (NYSE:DG) last released its quarterly earnings data on Thursday, August 31st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.34). Dollar General had a net margin of 5.59% and a return on equity of 36.34%. The business had revenue of $9.80 billion for the quarter, compared to the consensus estimate of $9.93 billion. During the same quarter in the prior year, the business posted $2.98 earnings per share. Dollar General’s revenue for the quarter was up 3.9% on a year-over-year basis.

A number of other research firms also recently issued reports on DG. Piper Jaffray Companies downgraded shares of Dollar General from an “overweight” rating to a “neutral” rating in a research note on Friday, June 2nd. Oppenheimer downgraded shares of Dollar General from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 31st. Barclays lowered their target price on shares of Dollar General from $165.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, September 1st. Morgan Stanley lowered their target price on shares of Dollar General from $180.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday, September 1st. Finally, Evercore ISI lowered their target price on shares of Dollar General from $150.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, September 8th. Seventeen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dollar General has an average rating of “Hold” and a consensus target price of $159.41.

Dollar General Price Performance

NYSE DG opened at $113.66 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.15 and a current ratio of 1.39. The firm’s 50 day moving average price is $155.04 and its 200-day moving average price is $183.90. Dollar General has a 52-week low of $112.91 and a 52-week high of $261.59. The company has a market cap of $24.95 billion, a PE ratio of 11.65, a P/E/G ratio of 2.09 and a beta of 0.30.

Dollar General Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, October 6th. This represents a $2.36 annualized dividend and a dividend yield of 2.08%. Dollar General’s dividend payout ratio (DPR) is presently 24.18%.

Institutional Trading of Dollar General

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Dollar General by 6.6% in the first quarter. BlackRock Inc. now owns 19,570,091 shares of the company’s stock valued at $4,118,721,000 after purchasing an additional 1,204,969 shares during the period. Capital International Investors grew its position in shares of Dollar General by 64.7% in the second quarter. Capital International Investors now owns 15,087,855 shares of the company’s stock valued at $2,561,298,000 after purchasing an additional 5,926,555 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Dollar General by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,741,755 shares of the company’s stock valued at $3,383,907,000 after purchasing an additional 192,873 shares during the period. Capital World Investors grew its position in shares of Dollar General by 124.4% in the second quarter. Capital World Investors now owns 10,787,703 shares of the company’s stock valued at $1,831,536,000 after purchasing an additional 5,979,461 shares during the period. Finally, State Street Corp grew its position in shares of Dollar General by 11.3% in the first quarter. State Street Corp now owns 9,765,333 shares of the company’s stock valued at $2,055,202,000 after purchasing an additional 994,813 shares during the period. Institutional investors and hedge funds own 90.37% of the company’s stock.

About Dollar General

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.