Dollar General Analysts Boost Their Forecasts After Upbeat Q4 Earnings
Portfolio Pulse from Avi Kapoor
Dollar General Corp (NYSE:DG) reported Q4 earnings surpassing expectations with a 3.4% sales decline to $9.858 billion but beating the $9.783 billion estimate. EPS was $1.83, above the $1.75 estimate. Same-store sales rose by 0.7%. FY24 EPS guidance is $6.80-$7.55, with net sales growth expected at 6%-6.7%. The company plans 2,385 real estate projects in FY24. Shares fell 5.1% to $150.06. Telsey Advisory Group and Wells Fargo adjusted their price targets on DG following the earnings report.
March 15, 2024 | 12:22 pm
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Dollar General reported better-than-expected Q4 earnings, with a slight increase in same-store sales and ambitious real estate plans for FY24. However, shares fell 5.1% following the announcement.
Despite surpassing earnings and sales estimates for Q4, Dollar General's stock price fell by 5.1%, indicating a negative short-term impact. The ambitious real estate plans for FY24 and the adjustments in price targets by analysts could provide a mixed outlook, but the immediate market reaction was negative.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100