B&G Foods (NYSE:BGS) Announces Quarterly Earnings Results

B&G Foods (NYSE:BGS) posted its quarterly earnings data on Thursday. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.10, MarketWatch Earnings reports. The firm had revenue of $512.54 million for the quarter, compared to the consensus estimate of $509.57 million. B&G Foods had a return on equity of 15.65% and a net margin of 6.22%.

NYSE:BGS traded up $1.32 during mid-day trading on Friday, reaching $28.91. The stock had a trading volume of 2,325,033 shares, compared to its average volume of 765,126. The business’s 50 day moving average is $24.98 and its 200 day moving average is $19.73. B&G Foods has a fifty-two week low of $10.39 and a fifty-two week high of $29.65. The stock has a market cap of $1.85 billion, a P/E ratio of 16.24 and a beta of 0.24. The company has a debt-to-equity ratio of 2.52, a current ratio of 3.69 and a quick ratio of 1.78.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.475 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.90 dividend on an annualized basis and a yield of 6.57%. B&G Foods’s dividend payout ratio is currently 115.85%.

BGS has been the topic of several recent analyst reports. Barclays restated a “neutral” rating on shares of B&G Foods in a report on Thursday, May 7th. Credit Suisse Group boosted their price objective on B&G Foods from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. DA Davidson started coverage on B&G Foods in a report on Thursday, June 11th. They issued a “neutral” rating on the stock. ValuEngine downgraded B&G Foods from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Finally, Piper Sandler upgraded B&G Foods from a “neutral” rating to an “overweight” rating and upped their target price for the company from $21.00 to $28.00 in a report on Tuesday, May 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $21.67.

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 for B&G Foods (NYSE:BGS)

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