B&G Foods, Inc. (BGS) Announces Quarterly Earnings Results
B&G Foods, Inc. (NYSE:BGS) announced its earnings results on Thursday. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by $0.06, Bloomberg Earnings reports. The company had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. B&G Foods had a return on equity of 15.40% and a net margin of 6.64%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. B&G Foods updated its FY17 guidance to $2.03-2.17 EPS.
Shares of B&G Foods (BGS) opened at 32.10 on Friday. The stock has a 50 day moving average of $36.18 and a 200-day moving average of $40.53. B&G Foods has a 12-month low of $31.15 and a 12-month high of $51.56. The firm has a market capitalization of $2.13 billion, a P/E ratio of 19.19 and a beta of 0.09.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.86 annualized dividend and a yield of 5.79%. B&G Foods’s dividend payout ratio (DPR) is currently 122.37%.
Several brokerages have commented on BGS. BMO Capital Markets dropped their target price on shares of B&G Foods from $45.00 to $39.00 and set a “market perform” rating on the stock in a report on Friday. Buckingham Research dropped their target price on shares of B&G Foods from $43.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday. BidaskClub downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank Of Canada restated a “buy” rating and set a $52.00 target price on shares of B&G Foods in a report on Tuesday, July 18th. Finally, Zacks Investment Research downgraded shares of B&G Foods from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. B&G Foods currently has a consensus rating of “Hold” and a consensus target price of $43.56.
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About B&G Foods
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, 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, wine vinegar, maple syrup, 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, nut clusters and other specialty products.
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