Calavo Growers (NASDAQ:CVGW) Issues Quarterly Earnings Results

Calavo Growers (NASDAQ:CVGW) released its earnings results on Thursday. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02, Briefing.com reports. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $297.45 million. Calavo Growers had a return on equity of 17.89% and a net margin of 2.54%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS.

Shares of NASDAQ:CVGW opened at $91.46 on Friday. Calavo Growers has a 1 year low of $67.52 and a 1 year high of $100.58. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 36.73 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.06. The company’s 50 day simple moving average is $87.38 and its 200 day simple moving average is $91.23.

The company also recently disclosed an annual dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were paid a $1.10 dividend. This represents a yield of 1.18%. This is a boost from Calavo Growers’s previous annual dividend of $1.00. The ex-dividend date of this dividend was Thursday, November 14th. Calavo Growers’s dividend payout ratio (DPR) is 44.18%.

In other news, Director Marc Laurence Brown sold 1,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $94.47, for a total transaction of $94,470.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $1,039,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is owned by insiders.

CVGW has been the topic of a number of recent analyst reports. Zacks Investment Research cut Calavo Growers from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. BidaskClub cut shares of Calavo Growers from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $96.50.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Earnings History for Calavo Growers (NASDAQ:CVGW)

Receive News & Ratings for Calavo Growers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calavo Growers and related companies with MarketBeat.com's FREE daily email newsletter.