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Kroger (KR) Gains As Market Dips: What You Should Know
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Kroger (KR - Free Report) closed the most recent trading day at $44.62, moving +1.41% from the previous trading session. This move outpaced the S&P 500's daily loss of 2%. Elsewhere, the Dow lost 2.06%, while the tech-heavy Nasdaq lost 2.32%.
Prior to today's trading, shares of the supermarket chain had lost 1.57% over the past month. This has lagged the Retail-Wholesale sector's gain of 0.91% and the S&P 500's gain of 2.88% in that time.
Kroger will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2023. On that day, Kroger is projected to report earnings of $0.93 per share, which would represent year-over-year growth of 2.2%. Meanwhile, our latest consensus estimate is calling for revenue of $34.81 billion, up 5.32% from the prior-year quarter.
Any recent changes to analyst estimates for Kroger should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Kroger is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Kroger has a Forward P/E ratio of 10.44 right now. This represents a discount compared to its industry's average Forward P/E of 11.75.
It is also worth noting that KR currently has a PEG ratio of 1.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Retail - Supermarkets stocks are, on average, holding a PEG ratio of 2.16 based on yesterday's closing prices.
The Retail - Supermarkets industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KR in the coming trading sessions, be sure to utilize Zacks.com.
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Kroger (KR) Gains As Market Dips: What You Should Know
Kroger (KR - Free Report) closed the most recent trading day at $44.62, moving +1.41% from the previous trading session. This move outpaced the S&P 500's daily loss of 2%. Elsewhere, the Dow lost 2.06%, while the tech-heavy Nasdaq lost 2.32%.
Prior to today's trading, shares of the supermarket chain had lost 1.57% over the past month. This has lagged the Retail-Wholesale sector's gain of 0.91% and the S&P 500's gain of 2.88% in that time.
Kroger will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2023. On that day, Kroger is projected to report earnings of $0.93 per share, which would represent year-over-year growth of 2.2%. Meanwhile, our latest consensus estimate is calling for revenue of $34.81 billion, up 5.32% from the prior-year quarter.
Any recent changes to analyst estimates for Kroger should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Kroger is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Kroger has a Forward P/E ratio of 10.44 right now. This represents a discount compared to its industry's average Forward P/E of 11.75.
It is also worth noting that KR currently has a PEG ratio of 1.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Retail - Supermarkets stocks are, on average, holding a PEG ratio of 2.16 based on yesterday's closing prices.
The Retail - Supermarkets industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KR in the coming trading sessions, be sure to utilize Zacks.com.