Wall Street brokerages expect B&G Foods, Inc. (NYSE:BGS) to report earnings per share of $0.59 for the current quarter, Zacks reports. Two analysts have provided estimates for B&G Foods’ earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.60. B&G Foods reported earnings per share of $0.55 in the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The firm is expected to issue its next quarterly earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that B&G Foods will report full-year earnings of $2.09 per share for the current fiscal year, with EPS estimates ranging from $2.05 to $2.11. For the next year, analysts forecast that the business will post earnings of $2.25 per share, with EPS estimates ranging from $2.12 to $2.32. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for B&G Foods.
B&G Foods (NYSE:BGS) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). B&G Foods had a return on equity of 16.12% and a net margin of 11.23%. The business had revenue of $388.40 million for the quarter, compared to analyst estimates of $386.91 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of B&G Foods from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of B&G Foods from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Royal Bank of Canada reiterated a “buy” rating and issued a $39.00 target price on shares of B&G Foods in a report on Friday, August 3rd. Finally, Piper Jaffray Companies began coverage on shares of B&G Foods in a report on Tuesday, June 19th. They issued a “neutral” rating and a $31.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.13.
Hedge funds have recently made changes to their positions in the company. McKinley Carter Wealth Services Inc. purchased a new stake in shares of B&G Foods in the first quarter valued at about $110,000. Macquarie Group Ltd. purchased a new stake in shares of B&G Foods in the second quarter valued at about $185,000. Cubist Systematic Strategies LLC purchased a new stake in B&G Foods during the second quarter worth about $205,000. First Allied Advisory Services Inc. purchased a new stake in B&G Foods during the second quarter worth about $216,000. Finally, Selway Asset Management purchased a new stake in B&G Foods during the second quarter worth about $217,000. Institutional investors own 99.13% of the company’s stock.
BGS traded down $1.15 during trading on Friday, hitting $27.75. 993,400 shares of the company’s stock were exchanged, compared to its average volume of 1,024,389. The company has a current ratio of 3.73, a quick ratio of 1.31 and a debt-to-equity ratio of 2.51. B&G Foods has a fifty-two week low of $22.00 and a fifty-two week high of $39.75. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 13.25 and a beta of 0.46.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Friday, September 28th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.90 annualized dividend and a dividend yield of 6.85%. B&G Foods’s dividend payout ratio is currently 89.62%.
B&G Foods Company Profile
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.
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