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TheStreet Open House

Earnings Reports to Watch Next Week

NEW YORK ( TheStreet) -- The bulk of next week's earnings will focus on a few companies trading over two million shares a day. Technology, services and capital goods are in the lineup.

Reporting Before the Open

 Kroger (KR)

About the company: Kroger is one of the larger grocery retailers in the United States and is headquartered in Cincinnati. Kroger trades an average of 4.9 million shares per day with a market cap of $12.2 Billion.

Kroger is anticipated to report moderate first-quarter earnings growth on June 14. The consensus estimate is currently 72 cents a share, an improvement of 2 cents from 70 cents during the same period last year.

The trailing 12-month price-to-earnings ratio is 11.3, and the forward estimate is 9.43, based on estimated earnings of $2.32 a share this year.

Revenue year-over-year has increased to $82.19 billion in the last fiscal year compared to $76.73 billion in the previous year. The bottom line has rising earnings year-over-year of $1.12 billion last fiscal year compared to $70 million in the previous year.

The Kroger chart is technically in a bear market and unsurprising given the current industry competitive landscape. Wal-Mart continues to make progress encroaching into this space and an improvement in earnings should be considered a victory.

Industry Comparisons:

Whole Foods (WFM)
Wal-Mart (WMT)
Supervalu (SVU)

Unlike Supervalu, Kroger doesn't have a large short interest to slingshot the stock price higher if it beats expectations. However, the price has fallen far enough to become priced with a single-digit earnings multiple. A beat with good guidance can move the stock back into a double digit price-to-earnings multiple.

 Pier 1 Imports (PIR)

About the company: Pier 1 Imports consists of a chain of retail stores operating under the names Pier 1 Imports and The Pier and trades an average of 2.1 million shares per day with a market cap of $1.7 billion.

Pier 1 is anticipated to report strong first-quarter earnings on June 14. The consensus estimate is currently 16 cents a share, an improvement of 4 cents (25%) from 12 cents during the same period last year.

The trailing 12-month price-to-earnings ratio is 16.2 and the mean fiscal-year estimate price-to-earnings ratio is 13.95, based on estimated earnings of $1.14 a share this year. Dividend yield is 1%.

Management has provided an improvement of year-over-year revenue. Revenue reported was $1.40 billion last fiscal year compared to $1.29 billion in the previous year. The bottom line has rising earnings year-over-year of $100.12 million last fiscal year compared to $86.84 million in the previous year.

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