B&G Foods, Inc. (BGS) to Post Q4 2018 Earnings of $0.51 Per Share, Piper Jaffray Companies Forecasts

B&G Foods, Inc. (NYSE:BGS) – Equities researchers at Piper Jaffray Companies lowered their Q4 2018 EPS estimates for B&G Foods in a research note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst M. Lavery now expects that the company will earn $0.51 per share for the quarter, down from their previous estimate of $0.54. Piper Jaffray Companies also issued estimates for B&G Foods’ Q2 2019 earnings at $0.40 EPS.

BGS has been the topic of a number of other research reports. Royal Bank of Canada reiterated a “buy” rating and set a $39.00 price target on shares of B&G Foods in a research note on Friday, August 3rd. Credit Suisse Group boosted their target price on shares of B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday. Citigroup reduced their target price on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. ValuEngine downgraded shares of B&G Foods from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Zacks Investment Research downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.22.

BGS opened at $26.97 on Friday. B&G Foods has a fifty-two week low of $22.00 and a fifty-two week high of $39.75. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.31 and a current ratio of 3.73. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 12.72 and a beta of 0.47.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. B&G Foods had a net margin of 11.09% and a return on equity of 15.88%. The firm had revenue of $422.60 million for the quarter, compared to the consensus estimate of $429.53 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year.

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of B&G Foods by 15.6% in the 2nd quarter. BlackRock Inc. now owns 9,170,456 shares of the company’s stock valued at $274,198,000 after purchasing an additional 1,234,551 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of B&G Foods by 14.5% in the first quarter. Principal Financial Group Inc. now owns 6,012,445 shares of the company’s stock valued at $142,496,000 after buying an additional 760,618 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of B&G Foods by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 1,387,440 shares of the company’s stock valued at $41,484,000 after buying an additional 33,821 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of B&G Foods by 146.6% in the second quarter. Glenmede Trust Co. NA now owns 1,109,493 shares of the company’s stock valued at $33,174,000 after buying an additional 659,552 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of B&G Foods by 3.1% in the second quarter. Advisors Asset Management Inc. now owns 778,434 shares of the company’s stock valued at $23,275,000 after buying an additional 23,557 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

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, 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 and Estimates for B&G Foods (NYSE:BGS)

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