Grocery Outlet (NASDAQ:GO) Updates FY24 Earnings Guidance

Grocery Outlet (NASDAQ:GO) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $0.89-$0.95 for the period, compared to the consensus EPS estimate of $1.17. The company issued revenue guidance of $4.3-$4.35 billion, compared to the consensus revenue estimate of $4.34 billion.

Analyst Ratings Changes

Several equities analysts recently issued reports on GO shares. Craig Hallum upgraded Grocery Outlet from a hold rating to a buy rating and set a $36.00 price objective on the stock in a research note on Wednesday, February 28th. Telsey Advisory Group cut their target price on shares of Grocery Outlet from $40.00 to $37.00 and set an outperform rating on the stock in a report on Wednesday, February 28th. Finally, UBS Group lowered their target price on Grocery Outlet from $32.00 to $30.00 and set a neutral rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Grocery Outlet has an average rating of Hold and an average price target of $31.44.

Grocery Outlet Stock Up 0.3 %

Shares of GO stock traded up $0.09 during trading on Tuesday, hitting $25.90. 2,286,448 shares of the company were exchanged, compared to its average volume of 1,236,478. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 2.47 and a beta of 0.13. 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 business’s 50-day simple moving average is $26.95 and its 200 day simple moving average is $27.10. Grocery Outlet has a twelve month low of $23.41 and a twelve month high of $36.54.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The firm had revenue of $989.82 million during the quarter, compared to analysts’ expectations of $982.44 million. As a group, analysts forecast that Grocery Outlet will post 0.95 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, Director Thomas F. Herman sold 2,000 shares of the business’s 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 transaction, the director now owns 11,400 shares in the company, valued at approximately $330,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director now owns 11,400 shares in the company, valued at approximately $330,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The disclosure for this sale can be found here. Insiders sold a total of 506,588 shares of company stock worth $13,367,577 over the last three months. 4.50% of the stock is currently owned by insiders.

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.