Grocery Outlet (NYSE:GO) Releases FY19 Earnings Guidance

Grocery Outlet (NYSE:GO) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.68-0.71 for the period, compared to the Thomson Reuters consensus 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.

Grocery Outlet stock traded up $0.06 during mid-day trading on Tuesday, reaching $37.60. 469,910 shares of the company were exchanged, compared to its average volume of 532,351. The stock has a 50-day moving average price of $35.74. Grocery Outlet has a twelve month low of $27.75 and a twelve month high of $39.56.

Several research firms have recently commented on GO. Cowen began coverage on Grocery Outlet in a report on Monday, July 15th. They issued an outperform rating and a $42.00 price target for the company. Goldman Sachs Group began coverage on Grocery Outlet in a report on Monday, July 15th. They issued a neutral rating and a $32.00 price target for the company. Morgan Stanley began coverage on Grocery Outlet in a report on Monday, July 15th. They issued an equal weight rating and a $30.00 price target for the company. Barclays began coverage on Grocery Outlet in a report on Monday, July 15th. They issued an equal weight rating and a $32.00 price target for the company. Finally, Bank of America began coverage on Grocery Outlet in a report on Monday, July 15th. They issued a neutral rating and a $37.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $36.75.

In other news, CFO Charles Bracher acquired 2,610 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was purchased at an average cost of $22.00 per share, with a total value of $57,420.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Steven K. Wilson purchased 20,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $22.00 per share, with a total value of $440,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 58,530 shares of company stock valued at $1,287,660 over the last ninety days.

Grocery Outlet Company Profile

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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