Published: Sat, December 02, 2017
Industry | By Johnnie Johnson

Kroger shares jump 10% on better-than-expected earnings

Kroger shares jump 10% on better-than-expected earnings

Kroger Co. (NYSE: KR) reported its fiscal third-quarter financial results before the markets opened on Thursday. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 68,657,857 shares of the stock are valued at $1.67 billion. Visit MarketWatch.com for more information on this news.

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KR has been the subject of a number of analyst reports. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Kroger by 497.2% in the 2nd quarter. The company said it had net income of $397 million, or 44 cents a share, in the quarter, up from $391 million, or 41 cents a share, in the year-earlier period. Janus Henderson Group PLC now owns 8,260,260 shares of the company's stock valued at $192,630,000 after acquiring an additional 8,137,179 shares during the last quarter. Finally, Sanders Morris Harris Inc. purchased a new stake in shares of Kroger during the first quarter worth approximately $208,000. Excluding fuel, total sales increased 3% from the prior-year quarter. Fourth quarter identical store sales are now projected to exceed 1.1%, although the company did not indicate by how much. The company presently has an average rating of "Hold" and an average target price of $29.10. Stephens initiated coverage on shares of Kroger in a report on Friday, August 11th. Nineteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock.

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The results represent a mini-rebound for the company, which has seen profits suffer as it slashed prices to compete with Walmart and Target - as well as Amazon since its acquisition of Whole Foods - in an increasingly competitive landscape for grocers.

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Kroger (NYSE:KR) issued an update on its FY18 earnings guidance on Thursday morning. 64,064,398 shares of the stock were exchanged, compared to its average volume of 12,311,889. The company has a quick ratio of 0.33, a current ratio of 0.87 and a debt-to-equity ratio of 2.13. Kroger Company has a 52 week low of $19.69 and a 52 week high of $36.44. The firm has a market capitalization of $20,957.14, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. This was good news for KR stock as analysts were looking for earnings per share of 40 cents on revenue of $27.46 billion for the quarter. The firm had revenue of $27.75 billion for the quarter, compared to analysts' expectations of $27.48 billion. Return on Equity (ROE) stands at 24% and Return on Investment (ROI) of 11.9 percent. In the same period of past year, the retailer posted EPS of $0.41 and $26.56 billion in revenue. Kroger also beat analysts' estimates by growing its gross margins to 22.4% for the quarter, and maintaining its adjusted earnings per share estimate of $2 to $2.05.

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