Grocery Outlet (NYSE:GO) issued an update on its FY19 earnings guidance on Monday morning. The company provided EPS guidance of $0.73-$0.74 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.72. The company issued revenue guidance of $2.55 billion, compared to the consensus revenue estimate of $2.55 billion.
Shares of GO stock traded down $0.79 during mid-day trading on Wednesday, hitting $32.50. The company’s stock had a trading volume of 511,496 shares, compared to its average volume of 749,791. The stock’s fifty day simple moving average is $31.98. Grocery Outlet has a 52 week low of $27.75 and a 52 week high of $47.57.
Grocery Outlet (NYSE:GO) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $652.50 million during the quarter, compared to the consensus estimate of $652.60 million. Grocery Outlet’s revenue was up 13.1% on a year-over-year basis.
A number of analysts recently commented on GO shares. Bank of America boosted their target price on Grocery Outlet from $37.00 to $40.00 and gave the company a neutral rating in a research report on Wednesday, August 14th. Zacks Investment Research lowered Grocery Outlet from a buy rating to a hold rating in a research report on Tuesday, November 12th. Jefferies Financial Group set a $51.00 target price on Grocery Outlet and gave the company a buy rating in a research report on Tuesday, October 8th. Deutsche Bank boosted their target price on Grocery Outlet from $40.00 to $43.00 and gave the company a buy rating in a research report on Wednesday, August 14th. Finally, Barclays reaffirmed a hold rating and issued a $37.00 target price on shares of Grocery Outlet in a research report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $39.89.
In other Grocery Outlet news, CEO Eric J. Jr. Lindberg sold 250,000 shares of Grocery Outlet stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $32.72, for a total transaction of $8,180,000.00. Also, CAO Pamela B. Burke sold 26,470 shares of Grocery Outlet stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $32.72, for a total value of $866,098.40. Insiders have sold a total of 12,119,742 shares of company stock valued at $396,557,958 in the last quarter.
About Grocery Outlet
Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.
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