Supermarket chain operator The Kroger Co. (
) on Thursday posted better-than-expected third quarter earnings
results and lifted its full-year outlook.
The Cincinnati-based company reported third quarter net income
of $316.5 million, or 60 cents per share, compared with $195.9
million, or 33 cents per share, in the year-ago period. Excluding
one-time gains, adjusted profit was 46 cents per share.
Revenue rose almost 6% from last year to $21.81 billion.
On average, Wall Street analysts expected a smaller profit of 43
cents per share, on lower revenue of $21.59 billion.
Looking ahead, KR boosted its full-year earnings outlook to a
range of $2.44 to $2.46 per share, up from a prior view of $2.35 to
$2.42. Analysts are currently looking for $2.35 to $2.42 per share
for the year.
Kroger shares rose $1.22, or +4.9%, in premarket trading
The Bottom Line
Shares of Kroger (
) have a 2.39% dividend yield, based on last night's closing stock
price of $25.06. The stock has technical support in the $22-$23
price area. If the shares can firm up, we see overhead resistance
around the $28 price level.
The Kroger Co. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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