B&G Foods (NYSE:BGS) Releases Earnings Results, Beats Expectations By $0.01 EPS

B&G Foods (NYSE:BGS) announced its earnings results on Tuesday. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01, Zacks reports. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%.

B&G Foods Stock Performance

NYSE BGS traded up $0.12 during midday trading on Tuesday, hitting $6.86. The company had a trading volume of 2,552,384 shares, compared to its average volume of 1,568,952. The firm has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $7.51. The stock has a market cap of $542.64 million, a price-to-earnings ratio of -20.16 and a beta of 0.50. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods has a fifty-two week low of $5.45 and a fifty-two week high of $11.97.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 11.09%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Analysts Set New Price Targets

BGS has been the subject of several research analyst reports. TD Cowen reduced their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Barclays reduced their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Evercore ISI reduced their price objective on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.30.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.