Grocery Outlet (NYSE:GO) Updates FY19 Earnings Guidance
Grocery Outlet (NYSE:GO) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.68-0.71 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.59. The company issued revenue guidance of $2.50 -2.53 billion, compared to the consensus revenue estimate of $2.51 billion.Grocery Outlet also updated its FY 2019 guidance to $0.68-0.71 EPS.
A number of research analysts have commented on the company. Bank of America assumed coverage on Grocery Outlet in a research note on Monday, July 15th. They set a neutral rating and a $37.00 price objective on the stock. Goldman Sachs Group assumed coverage on Grocery Outlet in a research note on Monday, July 15th. They set a neutral rating and a $32.00 price objective on the stock. Deutsche Bank initiated coverage on Grocery Outlet in a research note on Tuesday, July 16th. They set a buy rating and a $40.00 price objective on the stock. Cowen initiated coverage on Grocery Outlet in a research note on Monday, July 15th. They issued an outperform rating and a $42.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Grocery Outlet in a research note on Monday, July 15th. They issued an equal weight rating and a $30.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $36.75.
Shares of NYSE:GO traded up $0.06 during trading on Tuesday, hitting $37.60. The company’s stock had a trading volume of 469,910 shares, compared to its average volume of 532,351. Grocery Outlet has a fifty-two week low of $27.75 and a fifty-two week high of $39.56. The firm’s 50-day simple moving average is $35.74.
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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