Kroger is slated to report Q2 results after the close on Thursday, Sept. 12
Supermarket operator Kroger Co (NYSE:KR) is scheduled to take to the earnings confessional before the market opens on Thursday, Sept. 12. Per Zacks, analysts expect the company to report second-quarter profits of 91 cents per share on revenue of $34.09 billion.
A look at Kroger stock's history of post-earnings reactions during the past two years shows a mostly positive response. During its last eight reports, five of these next-day sessions were higher, including a 9.9% pop in March. Regardless of direction, the security averaged a post-earnings swing of 4.3%. This time around, the options market is pricing in a higher move of 8.5%.
KR was last seen up 0.6% to trade at $52.29. After snagging an April 3 year-to-date high of $58.34, the security slowly pulled back on the charts before the $48.50 area helped shares bounce back. In the time since, Kroger stock has traded between the $51.50 and $56 range, and sports a 14.3% gain for 2024.
Options traders are bullish ahead of the earnings event. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), KR's 10-day call/put ratio of 4.15 and 50-day call/put ratio of 2.75 rank in the 88th and 94th percentile, respectively, of readings from the past year.