Kroger Co (KR) to Post FY2018 Earnings of $2.00 Per Share, Oppenheimer Forecasts

Kroger Co (NYSE:KR) – Equities research analysts at Oppenheimer raised their FY2018 earnings estimates for shares of Kroger in a report issued on Monday. Oppenheimer analyst R. Parikh now anticipates that the company will post earnings per share of $2.00 for the year, up from their prior estimate of $1.95. Oppenheimer currently has a “Hold” rating and a $26.00 price target on the stock. Oppenheimer also issued estimates for Kroger’s Q4 2018 earnings at $0.59 EPS and FY2019 earnings at $1.85 EPS.

Kroger (NYSE:KR) last announced its earnings results on Thursday, November 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $27.75 billion during the quarter, compared to analysts’ expectations of $27.48 billion. Kroger had a net margin of 1.31% and a return on equity of 28.60%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share.

Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Kroger from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Deutsche Bank reissued a “buy” rating and issued a $26.00 price objective on shares of Kroger in a research report on Tuesday, September 5th. Royal Bank Of Canada set a $34.00 target price on shares of Kroger and gave the company a “buy” rating in a report on Monday, August 28th. Hilliard Lyons restated a “buy” rating and issued a $30.00 target price on shares of Kroger in a report on Tuesday, September 12th. Finally, Pivotal Research upgraded shares of Kroger from a “hold” rating to a “buy” rating and boosted their target price for the company from $21.34 to $25.00 in a report on Tuesday, September 12th. Eighteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Kroger currently has an average rating of “Hold” and a consensus target price of $29.16.

Shares of Kroger (NYSE KR) traded up $0.19 on Wednesday, reaching $26.41. 8,174,200 shares of the company’s stock were exchanged, compared to its average volume of 12,349,835. The company has a current ratio of 0.85, a quick ratio of 0.31 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $23,600.00, a PE ratio of 13.52, a P/E/G ratio of 3.46 and a beta of 0.93. Kroger has a one year low of $19.69 and a one year high of $36.44.

Several institutional investors have recently added to or reduced their stakes in the company. Greenlight Capital Inc. bought a new position in Kroger in the 3rd quarter valued at about $7,268,000. GSA Capital Partners LLP bought a new position in shares of Kroger during the 3rd quarter valued at about $278,000. Truepoint Inc. boosted its position in shares of Kroger by 1,906.0% during the 3rd quarter. Truepoint Inc. now owns 475,262 shares of the company’s stock valued at $475,000 after purchasing an additional 451,570 shares in the last quarter. Gyroscope Capital Management Group LLC bought a new position in shares of Kroger during the 3rd quarter valued at about $234,000. Finally, Cetera Advisor Networks LLC boosted its position in shares of Kroger by 30.2% during the 3rd quarter. Cetera Advisor Networks LLC now owns 20,168 shares of the company’s stock valued at $406,000 after purchasing an additional 4,675 shares in the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.

In other news, VP Carin L. Fike sold 1,538 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $25.61, for a total transaction of $39,388.18. Following the completion of the transaction, the vice president now owns 25,956 shares in the company, valued at $664,733.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorge P. Montoya sold 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $26.98, for a total transaction of $269,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.50 annualized dividend and a yield of 1.89%. Kroger’s dividend payout ratio is presently 29.76%.

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About Kroger

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

Earnings History and Estimates for Kroger (NYSE:KR)

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