Brokers Set Expectations for GrowGeneration FY2024 Earnings

GrowGeneration Corp. (NASDAQ:GRWG) – Investment analysts at Alliance Global Partners decreased their FY2024 earnings estimates for shares of GrowGeneration in a research note issued to investors on Wednesday, November 13th. Alliance Global Partners analyst A. Grey now anticipates that the company will earn ($0.59) per share for the year, down from their prior forecast of ($0.47). Alliance Global Partners currently has a “Neutral” rating and a $2.25 price target on the stock. The consensus estimate for GrowGeneration’s current full-year earnings is ($0.53) per share. Alliance Global Partners also issued estimates for GrowGeneration’s Q4 2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.30) EPS.

Several other brokerages have also issued reports on GRWG. Stifel Nicolaus decreased their price objective on GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a research report on Monday, July 29th. Roth Mkm cut their target price on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Lake Street Capital decreased their price target on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, GrowGeneration presently has a consensus rating of “Hold” and a consensus price target of $2.75.

GrowGeneration Trading Up 4.2 %

NASDAQ:GRWG opened at $1.75 on Monday. The stock has a market cap of $103.68 million, a price-to-earnings ratio of -2.01 and a beta of 3.14. The stock has a 50-day moving average price of $2.02 and a two-hundred day moving average price of $2.23. GrowGeneration has a 1 year low of $1.55 and a 1 year high of $3.38.

Insider Activity

In related news, Director Eula L. Adams acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average price of $2.02 per share, for a total transaction of $50,500.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $50,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GrowGeneration

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of GrowGeneration in the third quarter valued at approximately $42,000. Barclays PLC boosted its holdings in shares of GrowGeneration by 274.2% during the 3rd quarter. Barclays PLC now owns 75,452 shares of the company’s stock worth $161,000 after buying an additional 55,290 shares during the period. American Century Companies Inc. grew its stake in GrowGeneration by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock valued at $182,000 after buying an additional 12,197 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in GrowGeneration by 47.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock valued at $198,000 after buying an additional 22,269 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in GrowGeneration by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 112,180 shares of the company’s stock valued at $239,000 after acquiring an additional 5,628 shares during the period. 36.02% of the stock is currently owned by institutional investors and hedge funds.

About GrowGeneration

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.