Q3 EPS Estimates for Grocery Outlet Raised by Analyst

Grocery Outlet Holding Corp. (NASDAQ:GO) – Stock analysts at Telsey Advisory Group lifted their Q3 2024 EPS estimates for shares of Grocery Outlet in a research note issued to investors on Wednesday, October 30th. Telsey Advisory Group analyst J. Feldman now forecasts that the company will post earnings of $0.21 per share for the quarter, up from their previous forecast of $0.20. Telsey Advisory Group has a “Market Perform” rating and a $19.00 price objective on the stock. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share. Telsey Advisory Group also issued estimates for Grocery Outlet’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.62 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.22 EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at $0.76 EPS.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis.

Several other research firms have also recently commented on GO. Bank of America cut Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $17.00 in a report on Wednesday. Roth Mkm cut their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their target price on Grocery Outlet from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.73.

Grocery Outlet Price Performance

GO stock opened at $15.05 on Friday. The business has a 50 day simple moving average of $16.81 and a 200-day simple moving average of $20.01. The company has a market capitalization of $1.47 billion, a P/E ratio of 27.87, a PEG ratio of 2.67 and a beta of 0.10. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.98. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet during the 1st quarter worth $25,000. Blue Trust Inc. raised its stake in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Grocery Outlet during the third quarter worth about $32,000. Innealta Capital LLC acquired a new stake in Grocery Outlet during the second quarter worth about $38,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $82,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,095 shares of company stock worth $8,876,548. Corporate insiders own 4.50% 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.