Why Did Kroger Stock Rise 15% Last Month?
Shares of (NYSE: KR) climbed 15.2% in March, according to data provided by S&P Global Market Intelligence. The company smashed Wall Street's earnings estimates, and its surprisingly upbeat forecast caused analysts to revise their forecasts higher.
The grocer reported earnings on March 7, and the stock immediately surged higher. Kroger posted a roughly 1% decrease in "identical sales," which adjusts for the impact of fuel sales, store openings and closures, and the different number of weeks in comparable reporting periods. Quarterly revenue was up more than 6% including fuel. The grocer fell just short of consensus analyst revenue estimates, but it crushed earnings expectations. Its operating profit margin was 3.2% for its fiscal fourth quarter, an 80 basis point improvement over the prior year and well above the full-year 2.1% operating margin.
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Source Fool.com
Kroger Co. Stock
The stock is one of the favorites of our community with 37 Buy predictions and 1 Sell predictions.
As a result the target price of 66 € shows a slightly positive potential of 3.37% compared to the current price of 63.85 € for Kroger Co..
