B&G Foods, Inc. (NYSE: BGS) is expected to post earnings of $0.42 per share

Analysts predict that B&G Foods, Inc. (NYSE: BGS – Get Rating) will report earnings per share (EPS) of $0.42 for the current quarter, Zacks reports. Three analysts have made B&G Foods earnings estimates. The lowest EPS estimate is $0.39 and the highest is $0.48. B&G Foods reported earnings of $0.52 per share in the same quarter last year, which would indicate a negative 19.2% year-over-year growth rate. The company is expected to announce its next quarterly results on Monday, January 1.

According to Zacks, analysts expect B&G Foods to report annual earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.83. For next year, analysts expect the company to post earnings of $1.92 per share, with EPS estimates ranging from $1.88 to $1.99. Zacks earnings per share averages are an average average based on a survey of research companies that track B&G Foods.

B&G Foods (NYSE: BGS – Get Rating) last reported results on Tuesday, March 1. The company reported earnings per share (EPS) of $0.39 for the quarter, missing the consensus estimate of $0.42 per ($0.03). The company posted revenue of $571.80 million for the quarter, versus a consensus estimate of $591.15 million. B&G Foods achieved a net margin of 3.28% and a return on equity of 14.41%. The company’s revenue for the quarter increased by 12.1% compared to the same quarter last year. During the same period last year, the company posted EPS of $0.35.

BGS has been the subject of several recent analyst reports. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “strong sell” rating and set a target price of $27.00 for the stock. in a research note on Tuesday, January 4. StockNews.com launched coverage on B&G Foods in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Credit Suisse Group cut its price target on B&G Foods from $27.00 to $26.00 and placed an “underperform” rating on the stock in a Wednesday, March 2 research note. Finally, BMO Capital Markets reduced its price target on B&G Foods from $36.00 to $32.00 in a Wednesday, March 2 research note.

Several institutional investors have recently changed their positions in BGS. Norges Bank bought a new stock position in B&G Foods in Q4 for a value of approximately $15,603,000. BlackRock Inc. increased its stake in B&G Foods by 4.7% in the fourth quarter. BlackRock Inc. now owns 10,317,976 shares of the company valued at $317,073,000 after acquiring an additional 460,798 shares during the period. Morgan Stanley increased its stake in B&G Foods by 36.7% in the second quarter. Morgan Stanley now owns 1,384,406 shares of the company valued at $45,409,000 after acquiring an additional 371,512 shares during the period. State Street Corp increased its stake in B&G Foods by 8.9% in the fourth quarter. State Street Corp now owns 3,224,559 shares of the company valued at $100,569,000 after acquiring an additional 262,182 shares during the period. Finally, Balyasny Asset Management LLC bought a new position in B&G Foods during Q3 worth $5,142,000. Hedge funds and other institutional investors own 66.50% of the company’s shares.

BGS lost $0.29 on Friday, hitting $28.69. 776,273 shares of the company were traded, compared to its average volume of 1,066,095. The company’s 50-day simple moving average is $28.23 and its 200-day simple moving average is 30.05 $. The company has a market capitalization of $1.98 billion, a price-earnings ratio of 27.59 and a beta of 0.33. B&G Foods has a one-year low of $25.09 and a one-year high of $36.52. The company has a current ratio of 3.42, a quick ratio of 0.92 and a debt ratio of 2.46.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 2. Shareholders of record on Thursday, March 31 will receive a dividend of $0.475. This represents a dividend of $1.90 on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Wednesday, March 30. B&G Foods’ dividend payout ratio (DPR) is 182.69%.

B&G Foods Company Profile (Get an evaluation)

B&G Foods, Inc manufactures, sells and distributes a portfolio of shelf stable and frozen foods, as well as household products in the United States, Canada and Puerto Rico. The Company’s products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruits, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican sauces, dry soups , taco shells and kits, salsas, pickles, peppers, tomato products, baking powder and baking soda, corn starch, 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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