Equities analysts expect that B&G Foods, Inc. (NYSE:BGS) will announce sales of $479.89 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for B&G Foods’ earnings. The lowest sales estimate is $464.50 million and the highest is $494.15 million. B&G Foods posted sales of $473.68 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that B&G Foods will report full year sales of $1.72 billion for the current fiscal year, with estimates ranging from $1.71 billion to $1.74 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.72 billion, with estimates ranging from $1.65 billion to $1.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for B&G Foods.
B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 the consensus estimate of $429.53 million. During the same quarter last year, the company earned $0.55 earnings per share. B&G Foods’s revenue for the quarter was up 4.1% on a year-over-year basis.
BGS has been the subject of several recent research reports. ValuEngine downgraded shares of B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Zacks Investment Research downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Credit Suisse Group increased their price objective on shares of B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a research report on Wednesday, October 31st. Finally, Citigroup lowered 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 research report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.22.
In other news, Director Cheryl M. Palmer sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 this link. 2.90% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new stake in shares of B&G Foods during the second quarter worth approximately $185,000. Cubist Systematic Strategies LLC bought a new position in B&G Foods during the second quarter worth $205,000. First Allied Advisory Services Inc. bought a new position in B&G Foods during the second quarter worth $216,000. Park Avenue Securities LLC bought a new position in B&G Foods during the second quarter worth $230,000. Finally, Ridgewood Investments LLC bought a new position in B&G Foods during the second quarter worth $226,000. 99.65% of the stock is owned by institutional investors and hedge funds.
NYSE:BGS traded down $0.23 during trading hours on Tuesday, hitting $30.33. The stock had a trading volume of 671,368 shares, compared to its average volume of 659,732. The company has a quick ratio of 0.79, a current ratio of 1.61 and a debt-to-equity ratio of 2.07. B&G Foods has a 1-year low of $22.00 and a 1-year high of $39.75. The company 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 declared a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Monday, December 31st will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date is Friday, December 28th. B&G Foods’s payout ratio is currently 89.62%.
About B&G Foods
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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