Greggs (LON:GRG) Posts Earnings Results

Greggs (LON:GRG) issued its quarterly earnings results on Friday. The company reported GBX 45.60 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Greggs had a net margin of 7.13% and a return on equity of 26.79%.

Greggs Stock Performance

GRG opened at GBX 1,649 on Friday. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. Greggs has a 52-week low of GBX 1,407.20 and a 52-week high of GBX 2,246. The firm has a market cap of £1.68 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The business’s fifty day moving average is GBX 1,622.90 and its 200-day moving average is GBX 1,635.75.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRG. Royal Bank Of Canada decreased their price target on Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating for the company in a research note on Thursday, October 2nd. Shore Capital reissued a “hold” rating on shares of Greggs in a report on Wednesday, October 1st. Peel Hunt reaffirmed a “hold” rating and set a GBX 1,660 price target on shares of Greggs in a report on Wednesday, October 1st. JPMorgan Chase & Co. began coverage on shares of Greggs in a research note on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 target price for the company. Finally, Berenberg Bank reduced their price objective on Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating for the company in a report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Greggs presently has a consensus rating of “Hold” and a consensus target price of GBX 1,993.33.

Insiders Place Their Bets

In other Greggs news, insider Richard Hutton sold 7,438 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.57% of the stock is owned by corporate insiders.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,600 shops nationwide and approximately 33,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.