Wall Street brokerages expect B&G Foods, Inc. (NYSE:BGS) to announce $0.51 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for B&G Foods’ earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.51. B&G Foods posted earnings of $0.55 per share during the same quarter last year, which suggests a negative year over year growth rate of 7.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 2nd.
On average, analysts expect that B&G Foods will report full year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.85 to $1.90. For the next financial year, analysts expect that the firm will report earnings of $1.99 per share, with EPS estimates ranging from $1.92 to $2.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow B&G Foods.
B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.18). B&G Foods had a return on equity of 14.13% and a net margin of 10.14%. The firm had revenue of $458.10 million for the quarter, compared to the consensus estimate of $463.44 million. During the same period in the prior year, the business earned $0.57 EPS. B&G Foods’s quarterly revenue was down 1.8% on a year-over-year basis.
Several research firms have weighed in on BGS. Buckingham Research downgraded shares of B&G Foods from a “buy” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $23.00 in a research note on Wednesday, February 27th. ValuEngine raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. BMO Capital Markets decreased their price target on shares of B&G Foods from $33.00 to $28.00 and set a “market perform” rating for the company in a research note on Thursday, February 28th. Zacks Investment Research raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Finally, Piper Jaffray Companies set a $26.00 price target on shares of B&G Foods and gave the company a “hold” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $28.72.
In related news, COO Kenneth G. Romanzi purchased 1,200 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $24.64 per share, with a total value of $29,568.00. Following the completion of the purchase, the chief operating officer now owns 1,200 shares in the company, valued at approximately $29,568. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund bought a new stake in shares of B&G Foods during the fourth quarter worth about $25,000. ERTS Wealth Advisors LLC bought a new stake in shares of B&G Foods during the fourth quarter worth about $54,000. Flagship Harbor Advisors LLC increased its position in shares of B&G Foods by 218.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,169 shares of the company’s stock worth $62,000 after acquiring an additional 1,488 shares in the last quarter. Covington Capital Management bought a new stake in shares of B&G Foods during the fourth quarter worth about $94,000. Finally, Hanson & Doremus Investment Management boosted its holdings in B&G Foods by 17.1% during the fourth quarter. Hanson & Doremus Investment Management now owns 3,387 shares of the company’s stock worth $98,000 after purchasing an additional 495 shares during the last quarter. 96.56% of the stock is owned by hedge funds and other institutional investors.
NYSE BGS traded up $0.19 during mid-day trading on Friday, reaching $24.63. 719,934 shares of the stock were exchanged, compared to its average volume of 880,497. B&G Foods has a one year low of $21.92 and a one year high of $33.50. The company has a market capitalization of $1.61 billion, a PE ratio of 13.31 and a beta of 0.41. The company has a quick ratio of 0.71, a current ratio of 2.27 and a debt-to-equity ratio of 1.82.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 7.71%. The ex-dividend date of this dividend is Thursday, March 28th. B&G Foods’s dividend payout ratio (DPR) is currently 102.70%.
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, oatmeal and 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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