Kroger (NYSE:KR) Releases FY 2024 Earnings Guidance

Kroger (NYSE:KR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.300-4.500 for the period, compared to the consensus estimate of 4.430. The company issued revenue guidance of -.

Kroger Stock Down 0.1 %

Shares of Kroger stock opened at $50.21 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.36 and a current ratio of 0.86. Kroger has a 52-week low of $42.10 and a 52-week high of $58.34. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.90 and a beta of 0.43. The company’s 50 day moving average price is $53.65 and its 200-day moving average price is $50.79.

Kroger (NYSE:KR) last issued its earnings results on Thursday, June 20th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.10. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The firm had revenue of $45.27 billion for the quarter, compared to analysts’ expectations of $44.86 billion. During the same quarter last year, the business earned $1.51 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Kroger will post 4.43 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KR shares. BMO Capital Markets upgraded shares of Kroger from a market perform rating to an outperform rating and lifted their price target for the company from $58.00 to $60.00 in a report on Tuesday, June 18th. BNP Paribas reiterated an underperform rating and issued a $48.00 price target on shares of Kroger in a report on Monday, April 8th. Evercore ISI lowered their price objective on Kroger from $61.00 to $60.00 and set an outperform rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on Kroger from $60.00 to $58.00 and set an overweight rating for the company in a research report on Friday. Finally, Guggenheim raised their price objective on Kroger from $60.00 to $61.00 and gave the company a buy rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $56.20.

Insider Transactions at Kroger

In other Kroger news, CFO Todd A. Foley sold 6,616 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $55.69, for a total value of $368,445.04. Following the completion of the transaction, the chief financial officer now owns 46,958 shares of the company’s stock, valued at approximately $2,615,091.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Kroger news, VP Carin L. Fike sold 3,929 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the completion of the transaction, the vice president now owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Todd A. Foley sold 6,616 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $55.69, for a total value of $368,445.04. Following the completion of the transaction, the chief financial officer now directly owns 46,958 shares of the company’s stock, valued at approximately $2,615,091.02. The disclosure for this sale can be found here. Insiders sold a total of 55,796 shares of company stock valued at $3,118,767 in the last quarter. 1.40% of the stock is owned by insiders.

About Kroger

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.