Brokers Issue Forecasts for B&G Foods, Inc.’s Q3 2017 Earnings (BGS)
B&G Foods, Inc. (NYSE:BGS) – Investment analysts at William Blair decreased their Q3 2017 earnings per share estimates for shares of B&G Foods in a report issued on Thursday. William Blair analyst J. Andersen now forecasts that the company will post earnings per share of $0.50 for the quarter, down from their previous estimate of $0.53. William Blair also issued estimates for B&G Foods’ FY2018 earnings at $2.25 EPS.
B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.06. The business had revenue of $368.10 million during the quarter, compared to the consensus estimate of $376.45 million. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS.
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Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada restated a “buy” rating and set a $52.00 price objective on shares of B&G Foods in a research note on Tuesday, May 23rd. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Friday, May 26th. Citigroup Inc. upgraded B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, July 20th. Barclays PLC dropped their price objective on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Berenberg Bank started coverage on B&G Foods in a research note on Tuesday, May 16th. They set a “hold” rating and a $43.50 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $42.17.
Shares of B&G Foods (NYSE:BGS) opened at 31.45 on Monday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 18.80 and a beta of 0.09. B&G Foods has a 12 month low of $31.15 and a 12 month high of $51.34. The stock has a 50 day moving average of $35.66 and a 200-day moving average of $40.39.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Thursday, September 28th. B&G Foods’s payout ratio is 122.37%.
Large investors have recently added to or reduced their stakes in the company. Tyers Asset Management LLC boosted its stake in B&G Foods by 3.7% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock worth $108,000 after buying an additional 96 shares during the last quarter. North Star Investment Management Corp. boosted its stake in B&G Foods by 873.0% in the first quarter. North Star Investment Management Corp. now owns 2,919 shares of the company’s stock worth $117,000 after buying an additional 2,619 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in B&G Foods by 4.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,310 shares of the company’s stock worth $133,000 after buying an additional 134 shares during the last quarter. Elkfork Partners LLC boosted its stake in B&G Foods by 3.7% in the first quarter. Elkfork Partners LLC now owns 3,696 shares of the company’s stock worth $149,000 after buying an additional 132 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in B&G Foods by 54.1% in the first quarter. LS Investment Advisors LLC now owns 3,925 shares of the company’s stock worth $158,000 after buying an additional 1,378 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.
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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