Kroger (NYSE:KR) gained in trading today after announcing robust fourth-quarter results. The retailer reported adjusted earnings of $1.34 per share in Q4 compared to $0.99 in the same period last year. This was above consensus estimates of $1.13 per share.
Sales came in at $37.06 billion compared to Street estimates of $37.1 billion, equating to a 6.04% year-over-year increase. Kroger’s comparable sales (excluding fuel) declined by 0.8% in the fourth quarter.
For FY24, the retailer expects comparable sales growth (excluding fuel) of 0.25% to 1.75%, with adjusted earnings likely to be between $4.30 and $4.50 per share.
Is Kroger Stock a Good Buy Right Now?
Analysts remain bullish about Kroger with a Strong Buy consensus rating based on three Buys and one Hold. Over the past year, KR stock has rallied by more than 10%, and the average KR price target of $53 implies an upside potential of around 5% at current levels. However, these ratings are likely to change following Kroger’s earnings today.
