Safeway (NYSE:SWY) Profit Outshines Wall Street Forecasts; Stock Soars – SWY, SVU, KR, IMKTA

Safeway Inc (NYSE:SWY) stock hiked to record high after the second-biggest United States grocery chain announced profit tops analysts’ forecasts in fiscal Q4 on higher stores sales.

Shares of Pleasanton, California based Safeway surged 14% to settle at $22.97 in New York for the major boost since the company’s 1990 initial public offering.

The company reported in a statement that net income in the three months period finished Dec 29 moved up 13% to $244 million or $1.02 per share, from $215.6 million or 67 cents per share in previous year.

Profit without gains from legal settlements was 94 cents per share. Bloomberg 19 analysts’ poll data confirms that analysts forecasted 76 cents per share.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. SUPERVALU INC. (NYSE:SVU) rose +1.31% to settle at $3.88, The Kroger Co. (NYSE:KR) moved up +3.94% to end at $28.76 while Ingles Markets, Incorporated (NASDAQ:IMKTA) jumped +1.56% to finish at $19.49 on Thursday.

Safeway Inc. (NYSE:SWY) last session’s volume of 34.49 million shares was surprisingly higher than its average volume of 5.42 million shares. The stock after opening at $20.96 hit high price of $23.96 and then closed at $22.97 by scoring +14.11%.

The liquidity measure in recent quarter results of the company was recorded 1.06 as current ratio and on the other side the debt to equity ratio was 2.31 and long-term debt to equity ratio remained at 2.29. The Company had total cash of $267.00 million at hand and a book value per share as $11.60 in the most recent quarter.

The stock’s price volatility was 5.87% for a week and 3.56% for a month as well as price volatility’s Average True Range for 14 days was 0.80 and its beta remained at 0.76.

SWY generated revenue of $44.04 billion in the previous twelve months and earned $523.50 million. The Company showed a positive 1.20% in the net profit margin as well as in its operating margin which remained at 2.37%. Company’s annual sales growth for the past five years was 1.66%.

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