|Bid||0.00 x 800|
|Ask||0.00 x 900|
|Day's Range||37.30 - 37.96|
|52 Week Range||27.75 - 47.58|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||4,730.00|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Grocery Outlet Holding Corp. could become the go-to supermarket for many bargain-hunting new customers who find food prices rising elsewhere, Cowen analysts say. Grocery Outlet (GO) is an “extreme value” supermarket chain with 350 stores across California, Pennsylvania, Washington and a few other states. Grocery Outlet stock began trading in June 2019.
Good afternoon, everyone, and thank you for joining us on today's call to discuss Grocery Outlet's first-quarter financial results. Participants on this call will make forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such items, including our outlook for fiscal 2020 and future performance, should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
The U.S. death toll from the coronavirus that causes COVID-19 climbed above 81,000 on Tuesday, as President Donald Trump, defending his record on testing in the U.S., ended his White House news conference abruptly following an angry exchange with two reporters.
Grocery Outlet (NASDAQ: GO) shares are trading higher on Tuesday after reporting first-quarter earnings.Grocery Outlet reported quarterly earnings of 36c cents per share, which beat the analyst consensus estimate of 25 cents. The company reported quarterly sales of $760.3 million, which beat the analyst consensus estimate of $755.59 million.Deutsche Bank maintained a Buy rating and raised its price target from $42 to $43. Morgan Stanley maintained an Equal-Weight rating, but raised its price target from $38 to $41.Grocery Outlet is a grocery store operator in the U.S. Its buying model allows the company to offer quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers.View more earnings on GOGrocery Outlet shares were trading up 3.48% at $37.95 on Tuesday. The stock has a 52-week range between $47.57 and $27.75.Related links:Grocery Outlet Trades Lower On Mixed Q3 Preliminary ResultsGrocery Outlet Holding Opens Well Above IPO PriceLatest Ratings for GO DateFirmActionFromTo May 2020UBSMaintainsNeutral May 2020Deutsche BankMaintainsBuy May 2020Morgan StanleyMaintainsEqual-Weight View More Analyst Ratings for GO View the Latest Analyst RatingsSee more from Benzinga * Why Athene's Stock Is Trading Lower Today * Why MyoKardia's Stock Is Trading Higher Today * Why Peloton's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Grocery Outlet's (GO) first-quarter 2020 sales gain from comparable-store sales growth. Through the first five weeks of the second quarter, comparable-store sales growth is tracking in the mid-teens.
Grocery Outlet (GO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Grocery Outlet Holding Corp (GO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Several players in the Consumer Staples sector have been benefiting from increased demand owing to the coronavirus-led stockpiling. We have selected five stocks with an earnings beat potential.
Grocery Outlet (GO) foresees considerable increase in expenses related to the pandemic. While these costs did not impact the first quarter much, the second quarter is likely to bear the burden.
As earnings season gets underway, investors are expecting reports from Chipotle and Netflix after Tuesday's market close. Chris Versace, Tematica Research Chief Investment Officer, joins Yahoo Finance to discuss the latest earnings reports and what to expect next.
The Zacks Analyst Blog Highlights: Grocery Outlet, SunOpta, National Beverage, Conagra Brands and General Mills
Grocery Outlet (GO) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
There had been concerns around whether Grocery Outlet Holding Corp (NASDAQ: GO) was witnessing an uplift in sales similar to its more traditional peers, as customers continued to stockpile amid the coronavirus outbreak.Although fourth-quarter results had no surprises, sales have ramped since and it seems to be on track to recording a mid-teen comp in the first quarter, according to UBS.The Grocery Outlet Analyst Michael Lasser maintained a Neutral rating for Grocery Outlet Holding, keeping the price target at $35.The Grocery Outlet Thesis Grocery Outlet Holding's same-store sales in the first eight weeks of the first quarter were consistent with the fourth-quarter trends, implying 30%-40% same store sales in March, Lasser said in the note.He added that the company has a structure that allows it to be agile in adapting to local market needs. However, the biggest near-term challenge for this supermarket brand is that "its value proposition is highly dependent on opportunistic buys."Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.To address this challenge, Grocery Outlet Holding is trying to find opportunities to partner with non-traditional suppliers, like foodservice and nutrition companies.Although the virus-triggered sales growth will not last long, the company could benefit from brand awareness, new customers and new supplier relationships over time, Lasser said.GO Price Action Shares of Grocery Outlet Holding closed Tuesday at $33.20.Latest Ratings for GO DateFirmActionFromTo Mar 2020Morgan StanleyMaintainsEqual-Weight Mar 2020Deutsche BankMaintainsBuy Mar 2020Morgan StanleyMaintainsEqual-Weight View More Analyst Ratings for GO View the Latest Analyst Ratings See more from Benzinga * Morgan Stanley Upgrades Citrix On Work-From-Home Boost * Southwest Airlines 'Best-Positioned' To Weather Downturn, BofA Says In Upgrade * Baird Upgrades Netflix, Downgrades AT&T, Comcast As Pandemic Shifts Media Market(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Some money, amid the coronavirus stock market crash, has been funneling into select retailers. Grocery Outlet is outperforming since the start of 2020.