Kroger Analyst Day 2019 Update Sends KR Stock Soaring 11%

KR outlines expectations for 2020

Kroger (NYSE:KR) is seeing an increase to KR stock following news from its analyst update.

Kroger Analyst Day 2019 Update Sends KR Stock Soaring 11%
Source: Jonathan Weiss / Shutterstock.com

Starting off the Kroger Analyst Day 2019 news is the retail chain’s guidance for 2019. The company says that it continues to expect adjusted earnings per share between $2.15 and $2.25. That’s good news for KR stock as it has the midpoint of its outlook above Wall Street’s 2019 estimate of $2.19.

The positive Kroger Analyst Day 2019 outlook news doesn’t stop in 2019. KR also lays out what it is expecting to happen in 2020. That includes adjusted per-share earnings ranging from $2.30 to $2.40 in 2020. That’s another positive for KR with the low point matching analysts estimates of $2.30 for the year.

Rodney McMullen, Chairman and CEO of Kroger, also provides the following update to investors.

“Restock Kroger sets Kroger up for a stronger future. Momentum is returning to our core grocery business as a result of our customer obsession and renewed intensity around operational excellence, plus the asset-light, margin rich alternative profit streams that enrich our core supermarket business. We look forward to sharing how these come together at Kroger to create a path to consistently strong and attractive total shareholder return.”

Finishing off the Kroger Analyst Day 2019 news is a new share repurchase program. The total for this new program is $1 billion. It will be replacing the current share repurchase program, which has $546 million remaining.

KR stock was up 11.36% when the markets closed on Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/11/kroger-analyst-day-2019-update-boost-kr-stock/.

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