Grocery Outlet (GO) to Release Earnings on Tuesday

Grocery Outlet (NASDAQ:GO - Get Free Report) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Grocery Outlet to post 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.Individual that wish to listen to the company's earnings conference call can do so using this link.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $989.82 million for the quarter, compared to analysts' expectations of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. 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 Trading Up 0.7 %

Shares of GO stock traded up $0.19 on Tuesday, hitting $25.97. 1,045,285 shares of the stock traded hands, compared to its average volume of 1,235,666. The firm's 50-day moving average price is $26.96 and its two-hundred day moving average price is $27.14. 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 stock has a market capitalization of $2.60 billion, a PE ratio of 32.87, a PEG ratio of 2.52 and a beta of 0.10. Grocery Outlet has a twelve month low of $23.41 and a twelve month high of $36.54.

Insider Buying and Selling at Grocery Outlet

In other news, insider Andrea Renee Bortner sold 4,112 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $108,268.96. Following the completion of the sale, the insider now owns 49,308 shares in the company, valued at $1,298,279.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the transaction, the director now directly owns 11,400 shares of the company's stock, valued at $330,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrea Renee Bortner sold 4,112 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $26.33, for a total transaction of $108,268.96. Following the transaction, the insider now directly owns 49,308 shares of the company's stock, valued at $1,298,279.64. The disclosure for this sale can be found here. Insiders sold 506,588 shares of company stock worth $13,367,577 over the last 90 days. Corporate insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group decreased their target price on shares of Grocery Outlet from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $36.00 target price on the stock in a research report on Wednesday, February 28th. Finally, Telsey Advisory Group decreased their target price 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Grocery Outlet presently has an average rating of "Hold" and a consensus target price 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.