Dollar General Corporation (NYSE:DG) reported downbeat earnings for its third quarter on Thursday.
The company posted third-quarter adjusted EPS of 89 cents, down 29.4% year-over-year, missing the consensus of 94 cents. The retail behemoth reported quarterly sales of $10.2 billion, slightly above the consensus of $10.14 billion.
"We are pleased with our team's execution in the third quarter, particularly in light of multiple hurricanes that impacted our business," said Todd Vasos, Dollar General's chief executive officer. "While we continue to operate in an environment where our core customer is financially constrained, we delivered same-store sales near the top end of our expectations for the quarter."
Dollar General updated its financial guidance, including the negative impact of hurricane-related expenses of $32.7 million in the third quarter and an estimated fourth-quarter negative impact of approximately $10 million.
The company expects 2024 net sales growth of approximately 4.8% to 5.1%, compared to its previous expectation of roughly 4.7% to 5.3%.
Dollar General shares gained 3.1% to trade at $82.03 on Friday.
These analysts made changes to their price targets on Dollar General following earnings announcement.
- Truist Securities analyst Scot Ciccarelli maintained Dollar General with a Hold and lowered the price target from $94 to $83.
- Goldman Sachs analyst Kate McShane maintained the stock with a Buy and lowered the price target from $122 to $104.
- BMO Capital analyst Kelly Bania maintained the stock with a Market Perform and raised the price target from $80 to $84.
- Evercore ISI Group analyst Michael Montani maintained the stock with an In-Line and increased the price target from $95 to $96
Considering buying DG stock? Here's what analysts think:
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