FY2024 EPS Estimates for Grocery Outlet Reduced by Analyst

Grocery Outlet Holding Corp. (NASDAQ:GO) – Research analysts at Zacks Research cut their FY2024 earnings per share estimates for Grocery Outlet in a research note issued on Tuesday, November 19th. Zacks Research analyst S. Singh now anticipates that the company will earn $0.63 per share for the year, down from their prior estimate of $0.67. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.63 per share. Zacks Research also issued estimates for Grocery Outlet’s Q4 2024 earnings at $0.13 EPS, Q1 2025 earnings at $0.09 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.79 EPS, Q1 2026 earnings at $0.10 EPS, Q2 2026 earnings at $0.23 EPS, Q3 2026 earnings at $0.34 EPS and FY2026 earnings at $0.91 EPS.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. Grocery Outlet’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS.

A number of other analysts have also commented on the company. Telsey Advisory Group reduced their target price on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, October 30th. Loop Capital assumed coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, UBS Group cut their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Trading Up 4.8 %

NASDAQ:GO opened at $19.54 on Friday. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.80. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 4.69 and a beta of 0.13. The company’s 50 day moving average price is $16.82 and its 200-day moving average price is $19.06. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 73.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Erik D. Ragatz bought 110,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now owns 539,785 shares in the company, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the 3rd quarter valued at about $32,000. Innealta Capital LLC purchased a new position in shares of Grocery Outlet during the second quarter valued at about $38,000. True Wealth Design LLC bought a new stake in shares of Grocery Outlet in the third quarter worth about $75,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Grocery Outlet in the second quarter worth about $82,000. Institutional investors own 99.87% of the company’s stock.

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.