Brokerages predict that B&G Foods, Inc. (NYSE:BGS – Get Rating) will post earnings per share (EPS) of $0.32 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for B&G Foods’ earnings. The lowest EPS estimate is $0.27 and the highest is $0.38. B&G Foods reported earnings per share of $0.41 during the same quarter last year, which would suggest a negative year over year growth rate of 22%. The company is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that B&G Foods will report full-year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.61 to $1.68. For the next year, analysts anticipate that the firm will report earnings of $1.81 per share, with EPS estimates ranging from $1.74 to $1.90. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that provide coverage for B&G Foods.
B&G Foods (NYSE:BGS – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $532.41 million for the quarter, compared to analyst estimates of $512.02 million. B&G Foods had a net margin of 3.08% and a return on equity of 12.91%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS.
BGS has been the topic of a number of research reports. Credit Suisse Group cut their price objective on shares of B&G Foods from $27.00 to $26.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 2nd. StockNews.com lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Monday, May 9th. Zacks Investment Research raised shares of B&G Foods from a “sell” rating to a “hold” rating and set a $28.00 price target on the stock in a research report on Wednesday, May 4th. Finally, BMO Capital Markets decreased their price objective on shares of B&G Foods from $36.00 to $32.00 in a report on Wednesday, March 2nd.
Shares of BGS stock opened at $24.70 on Friday. The company’s fifty-day simple moving average is $26.93 and its 200-day simple moving average is $29.71. The company has a quick ratio of 1.00, a current ratio of 3.46 and a debt-to-equity ratio of 2.50. The firm has a market cap of $1.70 billion, a PE ratio of 25.46 and a beta of 0.31. B&G Foods has a 12 month low of $23.12 and a 12 month high of $36.52.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Thursday, March 31st were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 7.69%. The ex-dividend date was Wednesday, March 30th. B&G Foods’s payout ratio is currently 195.88%.
A number of institutional investors and hedge funds have recently bought and sold shares of BGS. BlackRock Inc. raised its stake in B&G Foods by 0.9% in the 1st quarter. BlackRock Inc. now owns 10,408,608 shares of the company’s stock valued at $280,825,000 after acquiring an additional 90,632 shares during the period. Vanguard Group Inc. increased its stake in B&G Foods by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,548,293 shares of the company’s stock worth $203,653,000 after buying an additional 132,095 shares in the last quarter. State Street Corp lifted its position in B&G Foods by 8.9% in the fourth quarter. State Street Corp now owns 3,224,559 shares of the company’s stock valued at $100,569,000 after purchasing an additional 262,182 shares during the last quarter. Bank of New York Mellon Corp lifted its position in B&G Foods by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 1,910,553 shares of the company’s stock valued at $57,107,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of B&G Foods by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,444,603 shares of the company’s stock valued at $44,393,000 after acquiring an additional 57,780 shares in the last quarter. 64.72% of the stock is currently owned by hedge funds and other institutional investors.
About B&G Foods (GetRating)
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company’s products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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