B&G Foods, Inc. (NYSE:BGS) Expected to Post Earnings of $0.42 Per Share

Analysts predict that B&G Foods, Inc. (NYSE:BGSGet Rating) will announce earnings per share (EPS) of $0.42 for the current quarter, Zacks reports. Three analysts have made estimates for B&G Foods’ earnings. The lowest EPS estimate is $0.39 and the highest is $0.48. B&G Foods reported earnings of $0.52 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 19.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that B&G Foods will report full-year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.83. For the next year, analysts forecast that the company will post earnings of $1.92 per share, with EPS estimates ranging from $1.88 to $1.99. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow B&G Foods.

B&G Foods (NYSE:BGSGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $571.80 million for the quarter, compared to the consensus estimate of $591.15 million. B&G Foods had a net margin of 3.28% and a return on equity of 14.41%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS.

BGS has been the topic of several recent analyst reports. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “strong sell” rating and set a $27.00 target price on the stock. in a research note on Tuesday, January 4th. StockNews.com initiated coverage on B&G Foods in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group reduced their price objective on B&G Foods from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 2nd. Finally, BMO Capital Markets reduced their price objective on B&G Foods from $36.00 to $32.00 in a research note on Wednesday, March 2nd.

Several institutional investors have recently made changes to their positions in BGS. Norges Bank purchased a new position in shares of B&G Foods in the 4th quarter worth approximately $15,603,000. BlackRock Inc. boosted its holdings in B&G Foods by 4.7% during the 4th quarter. BlackRock Inc. now owns 10,317,976 shares of the company’s stock valued at $317,073,000 after acquiring an additional 460,798 shares during the period. Morgan Stanley boosted its holdings in B&G Foods by 36.7% during the 2nd quarter. Morgan Stanley now owns 1,384,406 shares of the company’s stock valued at $45,409,000 after acquiring an additional 371,512 shares during the period. State Street Corp boosted its holdings in B&G Foods by 8.9% during the 4th quarter. State Street Corp now owns 3,224,559 shares of the company’s stock valued at $100,569,000 after acquiring an additional 262,182 shares during the period. Finally, Balyasny Asset Management LLC purchased a new position in B&G Foods during the 3rd quarter valued at $5,142,000. Hedge funds and other institutional investors own 66.50% of the company’s stock.

BGS traded down $0.29 on Friday, hitting $28.69. 776,273 shares of the company’s stock traded hands, compared to its average volume of 1,066,095. The company’s 50 day simple moving average is $28.23 and its 200-day simple moving average is $30.05. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 27.59 and a beta of 0.33. B&G Foods has a one year low of $25.09 and a one year high of $36.52. The company has a current ratio of 3.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.46.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Thursday, March 31st will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Wednesday, March 30th. B&G Foods’s dividend payout ratio (DPR) is 182.69%.

B&G Foods Company Profile (Get Rating)

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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Earnings History and Estimates for B&G Foods (NYSE:BGS)

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