Greggs (LON:GRG) Posts Earnings Results

Key Points

• Greggs reported quarterly earnings of GBX 55.10 per share, with a net margin of 5.68% and return on equity of 20.47%.
• The shares rose to GBX 1,955, near their 12-month high of GBX 1,960, giving the company a market capitalization of approximately £1.99 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of GBX 1,824.29; ratings range from “Sell” to “Buy.”

Greggs (LON:GRG - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported GBX 55.10 earnings per share for the quarter, Digital Look Earnings reports. Greggs had a net margin of 5.68% and a return on equity of 20.47%.

Greggs Price Performance

LON:GRG traded up GBX 265 during trading hours on Wednesday, reaching GBX 1,955. 4,985,635 shares of the company's stock were exchanged, compared to its average volume of 4,246,355. The company has a market capitalization of £1.99 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. Greggs has a 12 month low of GBX 1,407.20 and a 12 month high of GBX 1,960. The company has a quick ratio of 0.88, a current ratio of 0.56 and a debt-to-equity ratio of 75.94. The business's 50-day simple moving average is GBX 1,635.24 and its two-hundred day simple moving average is GBX 1,618.12.

Analyst Ratings Changes

Several brokerages recently commented on GRG. Jefferies Financial Group reissued a "hold" rating and set a GBX 1,610 target price on shares of Greggs in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and issued a GBX 1,330 price objective on shares of Greggs in a research note on Wednesday, May 13th. Berenberg Bank restated a "buy" rating and issued a GBX 2,090 price objective on shares of Greggs in a report on Thursday, May 14th. Shore Capital Group reaffirmed a "hold" rating on shares of Greggs in a research note on Tuesday, May 12th. Finally, UBS Group reaffirmed a "buy" rating and set a GBX 2,200 target price on shares of Greggs in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Greggs currently has a consensus rating of "Hold" and a consensus price target of GBX 1,824.29.

Insider Transactions at Greggs

In related news, insider Richard Smothers purchased 1,615 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of GBX 17 per share, with a total value of £274.55. Company insiders own 0.62% of the company's stock.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,700 shops nationwide and approximately 33,000 employees across the business. As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.

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