Greggs (LON:GRG) Issues Quarterly Earnings Results

Greggs (LON:GRG) announced its quarterly earnings results on Tuesday. The company reported GBX 150.70 ($1.94) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Greggs had a return on equity of 26.79% and a net margin of 7.13%.

Greggs Stock Performance

Shares of GRG stock traded down GBX 48 ($0.62) during trading hours on Thursday, hitting GBX 1,769 ($22.80). The stock had a trading volume of 31,982,238 shares, compared to its average volume of 1,872,300. The stock’s 50 day moving average is GBX 2,242.34 and its 200 day moving average is GBX 2,670.65. The firm has a market capitalization of £1.78 billion, a PE ratio of 13.12, a PEG ratio of 3.39 and a beta of 1.43. Greggs has a twelve month low of GBX 1,755 ($22.62) and a twelve month high of GBX 3,250 ($41.89). The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88.

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their target price on shares of Greggs from GBX 3,420 ($44.08) to GBX 3,250 ($41.89) and set a “buy” rating for the company in a report on Wednesday.

Insider Activity at Greggs

In related news, insider Nigel Mills bought 925 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were acquired at an average price of GBX 2,149 ($27.70) per share, with a total value of £19,878.25 ($25,622.91). 5.89% of the stock is owned by insiders.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,400 shops nationwide and approximately 32,000 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.