Equities analysts expect that B&G Foods, Inc. (NYSE:BGS) will post $435.85 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for B&G Foods’ earnings. The highest sales estimate is $438.30 million and the lowest is $433.40 million. B&G Foods posted sales of $408.36 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The company is expected to issue its next quarterly earnings results on Tuesday, October 30th.
On average, analysts expect that B&G Foods will report full-year sales of $1.74 billion for the current financial year. For the next year, analysts expect that the business will post sales of $1.77 billion per share. Zacks’ sales calculations 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 released its earnings results on Thursday, August 2nd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). B&G Foods had a return on equity of 16.12% and a net margin of 11.23%. The firm had revenue of $388.40 million for the quarter, compared to analyst estimates of $386.91 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year.
BGS has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating and set a $39.00 target price on shares of B&G Foods in a research report on Friday, August 3rd. Zacks Investment Research raised B&G Foods from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Thursday, May 24th. ValuEngine downgraded B&G Foods from a “sell” rating to a “strong sell” rating in a report on Thursday, July 12th. Finally, Piper Jaffray Companies assumed coverage on B&G Foods in a report on Tuesday, June 19th. They set a “neutral” rating and a $31.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. B&G Foods presently has an average rating of “Hold” and an average target price of $34.13.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGS. Ceredex Value Advisors LLC acquired a new stake in B&G Foods during the first quarter valued at approximately $77,276,000. BlackRock Inc. boosted its holdings in B&G Foods by 15.6% during the second quarter. BlackRock Inc. now owns 9,170,456 shares of the company’s stock valued at $274,198,000 after purchasing an additional 1,234,551 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in B&G Foods by 14.5% during the first quarter. Principal Financial Group Inc. now owns 6,012,445 shares of the company’s stock valued at $142,496,000 after purchasing an additional 760,618 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in B&G Foods by 146.6% during the second quarter. Glenmede Trust Co. NA now owns 1,109,493 shares of the company’s stock valued at $33,174,000 after purchasing an additional 659,552 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in B&G Foods by 25.1% during the first quarter. Epoch Investment Partners Inc. now owns 1,326,947 shares of the company’s stock valued at $31,449,000 after purchasing an additional 266,016 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors.
BGS stock opened at $31.15 on Friday. B&G Foods has a twelve month low of $22.00 and a twelve month high of $39.75. The stock has a market cap of $2.03 billion, a P/E ratio of 15.02 and a beta of 0.46. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.31 and a current ratio of 3.73.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend is Thursday, September 27th. B&G Foods’s payout ratio is 89.62%.
B&G Foods Company Profile
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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