Wall Street brokerages forecast that B&G Foods, Inc. (NYSE:BGS) will report $0.52 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for B&G Foods’ earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.49. B&G Foods posted earnings of $0.57 per share in the same quarter last year, which would suggest a negative year over year growth rate of 8.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 26th.
On average, analysts expect that B&G Foods will report full year earnings of $2.02 per share for the current financial year, with EPS estimates ranging from $1.98 to $2.04. For the next financial year, analysts forecast that the firm will report earnings of $2.11 per share, with EPS estimates ranging from $2.08 to $2.14. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover B&G Foods.
Get B&G Foods alerts:B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $429.53 million. During the same period last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. ValuEngine cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Finally, Citigroup decreased their price target on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.15.
In other news, Director Cheryl M. Palmer sold 12,000 shares of the 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 transaction, the director now directly owns 12,839 shares in the company, valued at approximately $379,007.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of B&G Foods by 1.3% during the 4th quarter. Bank of Montreal Can now owns 34,352 shares of the company’s stock worth $993,000 after acquiring an additional 430 shares during the period. State of Alaska Department of Revenue raised its holdings in B&G Foods by 1.5% in the fourth quarter. State of Alaska Department of Revenue now owns 30,849 shares of the company’s stock valued at $890,000 after buying an additional 455 shares during the period. Hanson & Doremus Investment Management raised its holdings in B&G Foods by 17.1% in the fourth quarter. Hanson & Doremus Investment Management now owns 3,387 shares of the company’s stock valued at $98,000 after buying an additional 495 shares during the period. Belpointe Asset Management LLC raised its holdings in B&G Foods by 7.1% in the third quarter. Belpointe Asset Management LLC now owns 7,779 shares of the company’s stock valued at $214,000 after buying an additional 513 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in B&G Foods by 15.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,305 shares of the company’s stock valued at $124,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.
Shares of B&G Foods stock traded down $1.08 during mid-day trading on Friday, hitting $25.58. 759,418 shares of the stock were exchanged, compared to its average volume of 770,750. B&G Foods has a twelve month low of $22.00 and a twelve month high of $33.50. The stock has a market capitalization of $1.69 billion, a P/E ratio of 12.07 and a beta of 0.38. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.61 and a quick ratio of 0.79.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Stockholders of record on Monday, December 31st were issued a dividend of $0.475 per share. The ex-dividend date was Friday, December 28th. This represents a $1.90 annualized dividend and a dividend yield of 7.43%. 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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