Kroger (NYSE:KR) Issues FY 2024 Earnings Guidance

Kroger (NYSE:KR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.300-4.500 for the period, compared to the consensus EPS estimate of 4.440. The company issued revenue guidance of -. Kroger also updated its FY25 guidance to $4.30-4.50 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KR. Evercore ISI decreased their target price on Kroger from $61.00 to $60.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Argus increased their price objective on Kroger from $70.00 to $72.00 and gave the stock a buy rating in a report on Monday, July 22nd. Morgan Stanley dropped their target price on shares of Kroger from $58.00 to $57.00 and set an equal weight rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. decreased their price target on shares of Kroger from $60.00 to $58.00 and set an overweight rating for the company in a research note on Friday, June 21st. Finally, BMO Capital Markets raised shares of Kroger from a market perform rating to an outperform rating and boosted their price objective for the stock from $58.00 to $60.00 in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $58.64.

Kroger Trading Down 1.5 %

Kroger stock opened at $51.50 on Thursday. Kroger has a 12-month low of $42.10 and a 12-month high of $58.34. The firm has a market capitalization of $37.17 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 0.81 and a beta of 0.47. The firm has a 50 day moving average of $53.21 and a 200 day moving average of $53.55. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. As a group, research analysts predict that Kroger will post 4.45 earnings per share for the current year.

Kroger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.32 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.28 annualized dividend and a yield of 2.49%. This is a boost from Kroger’s previous quarterly dividend of $0.29. Kroger’s payout ratio is presently 43.69%.

Insider Transactions at Kroger

In other news, VP Brian W. Nichols sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $54.53, for a total transaction of $109,060.00. Following the sale, the vice president now directly owns 18,063 shares of the company’s stock, valued at approximately $984,975.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

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.