Equities analysts predict that B&G Foods, Inc. (NYSE:BGS) will announce earnings of $0.52 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for B&G Foods’ earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.55. B&G Foods posted earnings of $0.57 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.8%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that B&G Foods will report full year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.04. For the next year, analysts anticipate that the business will post earnings of $2.15 per share, with EPS estimates ranging from $2.08 to $2.29. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for B&G Foods.
B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. B&G Foods had a net margin of 11.09% and a return on equity of 16.01%. The company had revenue of $422.60 million during the quarter, compared to analysts’ expectations of $429.53 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis.
A number of research firms have weighed in on BGS. Zacks Investment Research cut shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. ValuEngine raised shares of B&G Foods from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 7th. Credit Suisse Group lifted their price objective on shares of B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a report on Wednesday, October 31st. Finally, Citigroup cut their price objective on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.22.
BGS traded down $0.23 on Friday, reaching $30.33. The stock had a trading volume of 671,368 shares, compared to its average volume of 659,732. B&G Foods has a 12-month low of $22.00 and a 12-month high of $39.75. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.79 and a current ratio of 1.61. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 14.31 and a beta of 0.52.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.26%. B&G Foods’s dividend payout ratio is currently 89.62%.
In other news, Director Cheryl M. Palmer sold 12,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $29.52, for a total transaction of $354,240.00. Following the completion of the sale, the director now owns 12,839 shares of the company’s stock, valued at $379,007.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in BGS. Macquarie Group Ltd. purchased a new stake in shares of B&G Foods during the second quarter worth about $185,000. Cubist Systematic Strategies LLC acquired a new position in B&G Foods during the second quarter worth about $205,000. First Allied Advisory Services Inc. acquired a new position in B&G Foods during the second quarter worth about $216,000. GSA Capital Partners LLP acquired a new position in B&G Foods during the third quarter worth about $225,000. Finally, Ridgewood Investments LLC acquired a new position in B&G Foods during the second quarter worth about $226,000. 99.65% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Story: Put Option
Get a free copy of the Zacks research report on B&G Foods (BGS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com