GrowGeneration (NASDAQ:GRWG) Updates FY 2021 Earnings Guidance


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GrowGeneration (NASDAQ:GRWG) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of – for the period. The company issued revenue guidance of $415 million-$430 million, compared to the consensus revenue estimate of $424.99 million.

A number of equities research analysts have commented on the company. Roth Capital cut GrowGeneration from a buy rating to a neutral rating and increased their price target for the company from $27.00 to $45.00 in a research note on Wednesday, January 13th. Alliance Global Partners lowered GrowGeneration from a buy rating to a neutral rating and increased their price objective for the company from $45.00 to $54.00 in a report on Tuesday, January 12th. Stifel Nicolaus increased their price objective on GrowGeneration from $40.00 to $58.00 in a report on Wednesday, January 13th. Zacks Investment Research lowered GrowGeneration from a buy rating to a hold rating in a report on Friday, February 5th. Finally, LADENBURG THALM/SH SH lowered GrowGeneration from a buy rating to a neutral rating in a report on Tuesday, January 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $51.13.

GrowGeneration stock traded down $1.57 during midday trading on Tuesday, hitting $42.21. 62,165 shares of the company were exchanged, compared to its average volume of 2,443,242. The firm has a market capitalization of $2.47 billion, a PE ratio of 825.17 and a beta of 3.09. GrowGeneration has a fifty-two week low of $4.46 and a fifty-two week high of $67.75. The business has a fifty day simple moving average of $48.53 and a two-hundred day simple moving average of $41.47.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings results on Wednesday, March 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The business had revenue of $61.92 million for the quarter, compared to analysts’ expectations of $60.87 million. GrowGeneration had a return on equity of 4.68% and a net margin of 2.14%. Equities research analysts expect that GrowGeneration will post 0.15 earnings per share for the current year.

In other GrowGeneration news, Director Sean Stiefel sold 8,305 shares of the stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $47.58, for a total transaction of $395,151.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 13.57% of the company’s stock.

About GrowGeneration

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of horticultural, organics, and lighting and hydroponics products, including lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.

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