B&G Foods, Inc. Forecasted to Earn Q4 2023 Earnings of $0.36 Per Share (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS – Get Rating) – Equities research analysts at Seaport Res Ptn increased their Q4 2023 EPS estimates for shares of B&G Foods in a research report issued to clients and investors on Wednesday, March 1st. Seaport Res Ptn analyst E. Larson now expects that the company will post earnings of $0.36 per share for the quarter, up from their previous estimate of $0.35. The consensus estimate for B&G Foods’ current full-year earnings is $1.03 per share.

B&G Foods (NYSE:BGS – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. B&G Foods had a positive return on equity of 8.97% and a negative net margin of 0.53%. The company had revenue of $623.23 million for the quarter, compared to analyst estimates of $583.86 million. During the same period in the prior year, the company posted $0.39 EPS. B&G Foods’s quarterly revenue was up 9.0% on a year-over-year basis.

Several other equities analysts have also recently issued reports on the stock. Consumer Edge cut shares of B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 price objective on the stock. in a research note on Thursday, December 1st. Credit Suisse Group dropped their target price on shares of B&G Foods from $14.50 to $12.50 and set an “underperform” rating on the stock in a research report on Thursday, November 10th. Royal Bank of Canada dropped their target price on shares of B&G Foods from $24.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Friday, November 11th. Finally, BMO Capital Markets lowered their price objective on shares of B&G Foods from $21.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, November 10th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, B&G Foods has an average rating of “Hold” and an average target price of $15.70.

B&G Foods Stock Performance

BGS stock opened at $15.88 on Monday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -105.87 and a beta of 0.44. The stock’s fifty day moving average is $13.13 and its two-hundred day moving average is $15.21. B&G Foods has a 1 year low of $10.91 and a 1 year high of $30.69. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.98 and a current ratio of 3.75.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, March 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Thursday, March 30th. B&G Foods’s payout ratio is -506.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Accel Wealth Management increased its position in shares of B&G Foods by 206.3% during the 4th quarter. Accel Wealth Management now owns 2,291 shares of the company’s stock valued at $26,000 after purchasing an additional 1,543 shares during the last quarter. Phocas Financial Corp. bought a new position in B&G Foods during the 4th quarter worth approximately $27,000. Global Retirement Partners LLC grew its position in B&G Foods by 348.2% during the 3rd quarter. Global Retirement Partners LLC now owns 2,250 shares of the company’s stock worth $37,000 after acquiring an additional 1,748 shares during the last quarter. Parallel Advisors LLC grew its position in B&G Foods by 1,675.9% during the 4th quarter. Parallel Advisors LLC now owns 3,321 shares of the company’s stock worth $37,000 after acquiring an additional 3,134 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new position in B&G Foods during the 4th quarter worth approximately $37,000. Institutional investors own 63.71% of the company’s stock.

B&G Foods Company Profile

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B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.