Equities analysts expect GrowGeneration Corp. (NASDAQ:GRWG) to post $123.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for GrowGeneration's earnings, with the lowest sales estimate coming in at $112.91 million and the highest estimate coming in at $128.41 million. GrowGeneration reported sales of $55.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 123.8%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 10th.
On average, analysts expect that GrowGeneration will report full year sales of $471.71 million for the current financial year, with estimates ranging from $455.57 million to $483.57 million. For the next fiscal year, analysts anticipate that the company will report sales of $613.15 million, with estimates ranging from $537.57 million to $648.71 million. Zacks' sales calculations are an average based on a survey of sell-side analysts that that provide coverage for GrowGeneration.
GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings results on Thursday, August 12th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.12 by ($0.01). GrowGeneration had a return on equity of 6.20% and a net margin of 5.32%.
Several research analysts have issued reports on GRWG shares. Stifel Nicolaus lowered their price objective on shares of GrowGeneration from $67.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, August 13th. Craig Hallum lowered their price objective on shares of GrowGeneration from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, August 13th. Zacks Investment Research downgraded shares of GrowGeneration from a "buy" rating to a "hold" rating in a research report on Friday, August 13th. Lake Street Capital lowered their price objective on shares of GrowGeneration from $77.00 to $63.00 and set a "buy" rating on the stock in a research report on Monday, August 23rd. Finally, Northland Securities started coverage on shares of GrowGeneration in a research report on Wednesday, July 7th. They set a "buy" rating and a $55.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, GrowGeneration currently has a consensus rating of "Buy" and an average price target of $51.67.
A number of hedge funds have recently added to or reduced their stakes in GRWG. AdvisorShares Investments LLC increased its holdings in GrowGeneration by 238.1% in the first quarter. AdvisorShares Investments LLC now owns 1,545,695 shares of the company's stock valued at $76,806,000 after buying an additional 1,088,497 shares in the last quarter. BlackRock Inc. increased its stake in GrowGeneration by 12.3% in the 2nd quarter. BlackRock Inc. now owns 3,420,183 shares of the company's stock valued at $164,512,000 after purchasing an additional 373,806 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in GrowGeneration in the 1st quarter valued at approximately $16,309,000. Morgan Stanley increased its stake in GrowGeneration by 116.7% in the 1st quarter. Morgan Stanley now owns 519,859 shares of the company's stock valued at $25,831,000 after purchasing an additional 279,937 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in GrowGeneration by 12.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,538,458 shares of the company's stock valued at $122,100,000 after purchasing an additional 275,519 shares in the last quarter. 42.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:GRWG opened at $26.99 on Friday. GrowGeneration has a 12 month low of $14.25 and a 12 month high of $67.75. The firm has a market capitalization of $1.61 billion, a P/E ratio of 89.97 and a beta of 2.82. The company's fifty day moving average price is $35.79 and its 200 day moving average price is $41.87.
GrowGeneration Corp. engages in the retail of hydroponic and organic specialty gardening products. It offers lighting fixtures, nutrients, seeds and growing media systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools. The company was founded by Darren Lampert and Michael Salaman on March 6, 2014 and is headquartered in Denver, CO.
Recommended Story: Why is the conference call important?
Get a free copy of the Zacks research report on GrowGeneration (GRWG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider GrowGeneration, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GrowGeneration wasn't on the list.
While GrowGeneration currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here