Grocery Outlet (GO) Set to Announce Earnings on Tuesday

Grocery Outlet (NASDAQ:GO - Get Free Report) will be posting its quarterly earnings results after the market closes on Tuesday, November 5th. Analysts expect Grocery Outlet to post earnings of $0.27 per share for the quarter. Grocery Outlet has set its FY24 guidance at $0.89 to $0.95 EPS and its FY 2024 guidance at 0.890-0.950 EPS.Investors interested in listening to the company's conference call can do so using this link.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the previous year, the business posted $0.23 earnings per share. Grocery Outlet's quarterly revenue was up 11.7% on a year-over-year basis. 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 Stock Performance

NASDAQ:GO traded down $0.23 during mid-day trading on Tuesday, reaching $16.61. 1,458,530 shares of the company's stock were exchanged, compared to its average volume of 1,756,658. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The firm has a market capitalization of $1.63 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 3.21 and a beta of 0.10. Grocery Outlet has a one year low of $15.18 and a one year high of $29.98. The business's fifty day simple moving average is $17.07 and its two-hundred day simple moving average is $20.25.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company's stock, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,095 shares of company stock valued at $8,876,548. Corporate insiders own 4.50% of the company's stock.

Analyst Ratings Changes

GO has been the subject of several analyst reports. Loop Capital initiated coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a "hold" rating and a $17.00 target price for the company. Roth Mkm reduced their target price on Grocery Outlet from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Roth Capital raised Grocery Outlet from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Craig Hallum lowered Grocery Outlet from a "buy" rating to a "hold" rating and reduced their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Finally, Melius Research initiated coverage on Grocery Outlet in a research note on Monday, September 23rd. They set a "hold" rating and a $17.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.60.

About Grocery Outlet

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.