Kroger Co.’s (NYSE:KR) declared that its first-quarter earnings climbed up 1.6% as superior costs partially wiped out the supermarket firm’s consistent sales growth.
Shares of Kroger were 4.9% higher at $22.33 in latest premarket trading as the firm’s board also approved a $1 billion stock buyback plan and Kroger lifted its complete 2012 earnings outlook. Till Wednesday’s closing bell, the stock was lower almost 12% this year.
The new repurchase plan substitutes a previous plan that was expired on Tuesday. Kroger reported that it bought back 14.6 million shares for a sum of $345.3 million in the initial quarter.
For 2012, Kroger lifted its per-share earnings forecast to $2.33 to $2.40 from its earlier estimate for $2.28 to $2.38 and confirmed its estimate for same-store sales omitting fuel growth of 3% to 3.5%.
Its competitors include Costco Wholesale Corporation (NASDAQ:COST) that surged 2.70% to $89.79 with the total traded volume of 475,794.00 shares and SUPERVALU INC. (NYSE:SVU) that moved up 4.22% to $4.45 with the total traded volume of 1.13 million shares.
Other services stocks with bullish trend include The Home Depot, Inc. (NYSE:HD) up 1.98% to $51.98, Comcast Corporation (NASDAQ:CMCSA) up 1.57% to $30.45 and Macy’s, Inc. (NYSE:M) up 2.20% to $35.83, whereas with bearish trend include Las Vegas Sands Corp. (NYSE:LVS) down -1.37% to $44.63, eBay Inc (NASDAQ:EBAY) down -0.91% to $39.81 and Interpublic Group of Companies, Inc. (NYSE:IPG) down -0.68% to $10.28.
The Kroger Co. (NYSE:KR) stock reports on June 14, 2012 increased 3.76% to the trading price of $22.09 at 10:18AM EDT. Its fifty two week range is $21.14-$25.85. The total market capitalization remained $12.39 billion.
The overall volume in the current trading session is 3.67 million shares. In its share capital KR has 560.97 million outstanding shares among them 553.46 million shares have been floated in market exchange. KR stock institutional ownership remained 82.54% while insider ownership included 0.47%.
KR is ahead its 52 week low with 5.14% and logging behind from its 52 week high price with -13.60%. KR last month stock price volatility remained 1.53%. The stock price of KR is moving down from its 20 days moving average with -0.18% and remote negatively from 50 days moving average with -3.40%.
KR current year earnings per share experienced a decline with -41.99% while its current quarter performance remained -12.10%. Company’s beta coefficient included 0.40. Beta factors measures the amount of market risk associated with market trade.
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