Kroger Expected To Report Record Quarter
Kroger Co (NYSE: KR) is scheduled to announce first quarter financial results Thursday before the market opens.
According to Estimize, this is expected to be a record quarter. The Street is modeling consensus earnings of $1.21 per share on revenue of $33.268 billion. This means earnings would be the highest ever, up 11 percent year-over-year.
The crowd is even more bullish, and projects consensus earnings of $1.22 per share on revenue of $33.269 billion. The chart above shows that Kroger has a history of beating estimates.
It is also interesting to see how sentiment has changed over time. The Street’s consensus experienced a steep fall during March, but then recuperated, returning to its original $1.21 level. The crowd’s estimates also went through some ups and downs, but ultimately tended upwards.
Related Link: What's Coming For Kroger? Oppenheimer Answers
Oppenheimer Weighs In
In a report published Tuesday, Oppenheimer analysts Rupesh Parikh and Erica Eiler also previewed Kroger’s first quarter earnings. According to the note, they are modeling earnings of $1.21 per share, in line with the Street’s consensus, and in the upper end of the management’s guidance: “Sturdier gross margins and a potentially lower LIFO charge could drive earnings upside, while gas margins are likely to remain quite consistent with the ones registered in the same quarter last year.”
Latest Ratings for KR
|Mar 2017||UBS||Initiates Coverage On||Neutral|
|Mar 2017||RBC Capital||Upgrades||Sector Perform||Outperform|
|Mar 2017||Northcoast Research||Downgrades||Buy||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.