Sweetgreen (SG) Scheduled to Post Quarterly Earnings on Thursday

Sweetgreen (NYSE:SG) is scheduled to be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Sweetgreen has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The company had revenue of $153.00 million during the quarter, compared to analyst estimates of $152.04 million. During the same period in the previous year, the company posted ($0.44) earnings per share. The company’s quarterly revenue was up 29.0% on a year-over-year basis. On average, analysts expect Sweetgreen to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sweetgreen Trading Down 11.4 %

Shares of SG opened at $19.90 on Thursday. The stock has a 50 day simple moving average of $20.87 and a 200-day simple moving average of $14.24. Sweetgreen has a 1 year low of $7.53 and a 1 year high of $26.45. The stock has a market cap of $2.25 billion, a PE ratio of -19.90 and a beta of 2.20.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 29,475 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total value of $619,269.75. Following the transaction, the chief financial officer now directly owns 405,584 shares in the company, valued at approximately $8,521,319.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of Sweetgreen stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.32, for a total transaction of $52,803.52. Following the transaction, the insider now directly owns 139,693 shares in the company, valued at $1,721,017.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 29,475 shares of Sweetgreen stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total value of $619,269.75. Following the transaction, the chief financial officer now owns 405,584 shares in the company, valued at $8,521,319.84. The disclosure for this sale can be found here. Insiders have sold 140,555 shares of company stock worth $2,214,389 in the last three months. Insiders own 21.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SG. JPMorgan Chase & Co. raised their price target on Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Piper Sandler increased their price objective on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Morgan Stanley increased their price objective on Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Royal Bank of Canada increased their price objective on Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, Citigroup increased their price objective on Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.