GrubHub Inc (GRUB) Posts Earnings Results, Beats Expectations By $0.04 EPS
GrubHub Inc (NASDAQ:GRUB) released its quarterly earnings results on Wednesday. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. The business had revenue of $123.50 million for the quarter, compared to the consensus estimate of $118.36 million. The business’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period last year, the firm posted $0.08 EPS.
GrubHub (NASDAQ:GRUB) opened at 37.88 on Thursday. The company has a market cap of $3.23 billion and a P/E ratio of 78.92. GrubHub has a 12-month low of $17.77 and a 12-month high of $44.58. The stock’s 50 day moving average is $41.76 and its 200 day moving average is $33.46.
In related news, CFO Adam Dewitt sold 5,000 shares of GrubHub stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $39.14, for a total transaction of $195,700.00. Following the sale, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at approximately $215,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin C. Spero sold 1,968,007 shares of GrubHub stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $38.84, for a total transaction of $76,437,391.88. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in GRUB. BlackRock Inc. raised its stake in shares of GrubHub by 133.5% in the first quarter. BlackRock Inc. now owns 4,927 shares of the company’s stock valued at $124,000 after buying an additional 2,817 shares during the period. BlackRock Group LTD increased its stake in GrubHub by 28.2% in the first quarter. BlackRock Group LTD now owns 38,003 shares of the company’s stock valued at $956,000 after buying an additional 8,357 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in GrubHub during the second quarter valued at approximately $213,000. Chevy Chase Trust Holdings Inc. increased its stake in GrubHub by 9.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 138,151 shares of the company’s stock valued at $4,292,000 after buying an additional 11,363 shares in the last quarter. Finally, Morgens Waterfall Vintiadis & Co. Inc. acquired a new stake in GrubHub during the second quarter valued at approximately $1,554,000.
GRUB has been the topic of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price objective (up previously from $32.00) on shares of GrubHub in a research note on Friday, July 29th. Zacks Investment Research lowered shares of GrubHub from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. Argus initiated coverage on shares of GrubHub in a research note on Wednesday, October 12th. They issued a “buy” rating and a $52.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $47.00 price objective (up previously from $40.00) on shares of GrubHub in a research note on Thursday, July 28th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of GrubHub in a research note on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $41.41.
Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.
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