Analysts Expect B&G Foods, Inc. (BGS) to Announce $0.38 Earnings Per Share

Wall Street brokerages expect that B&G Foods, Inc. (NYSE:BGS) will report earnings per share of $0.38 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for B&G Foods’ earnings, with estimates ranging from $0.35 to $0.40. B&G Foods also reported earnings per share of $0.38 in the same quarter last year. The company is expected to report its next earnings report on Thursday, August 1st.

On average, analysts expect that B&G Foods will report full-year earnings of $1.85 per share for the current financial year, with EPS estimates ranging from $1.80 to $1.90. For the next year, analysts anticipate that the company will post earnings of $1.97 per share, with EPS estimates ranging from $1.88 to $2.05. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover B&G Foods.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The company had revenue of $412.70 million during the quarter, compared to analyst estimates of $406.04 million. B&G Foods had a net margin of 10.03% and a return on equity of 13.26%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS.

Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets reduced their price target on shares of B&G Foods from $33.00 to $28.00 and set a “market perform” rating for the company in a report on Thursday, February 28th. Piper Jaffray Companies set a $26.00 price target on shares of B&G Foods and gave the company a “hold” rating in a report on Friday, March 1st. Credit Suisse Group reduced their price target on shares of B&G Foods from $23.00 to $19.00 and set an “underperform” rating for the company in a report on Wednesday, February 27th. Finally, Citigroup reduced their price target on shares of B&G Foods from $33.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.72.

Shares of B&G Foods stock traded up $0.21 on Friday, hitting $21.80. The company had a trading volume of 22,130 shares, compared to its average volume of 990,984. The stock has a market capitalization of $1.46 billion, a PE ratio of 11.78 and a beta of 0.44. B&G Foods has a twelve month low of $21.36 and a twelve month high of $33.50. The company has a quick ratio of 0.74, a current ratio of 2.15 and a debt-to-equity ratio of 1.90.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 8.72%. The ex-dividend date was Thursday, March 28th. B&G Foods’s dividend payout ratio is presently 102.70%.

In other B&G Foods news, COO Kenneth G. Romanzi acquired 1,200 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $24.64 per share, with a total value of $29,568.00. Following the completion of the transaction, the chief operating officer now directly owns 1,200 shares in the company, valued at approximately $29,568. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of B&G Foods by 1.0% in the fourth quarter. BlackRock Inc. now owns 9,551,437 shares of the company’s stock valued at $276,132,000 after acquiring an additional 91,843 shares in the last quarter. Vanguard Group Inc raised its position in B&G Foods by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 6,924,430 shares of the company’s stock valued at $190,075,000 after purchasing an additional 149,343 shares in the last quarter. Vanguard Group Inc. raised its position in B&G Foods by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,924,430 shares of the company’s stock valued at $190,075,000 after purchasing an additional 149,343 shares in the last quarter. Bank of New York Mellon Corp raised its position in B&G Foods by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,428,670 shares of the company’s stock valued at $39,218,000 after purchasing an additional 41,230 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in B&G Foods by 2.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,365,555 shares of the company’s stock valued at $39,478,000 after purchasing an additional 30,937 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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

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