B&G Foods, Inc. (NYSE:BGS) – Equities researchers at Piper Jaffray Companies reduced their FY2018 earnings per share estimates for B&G Foods in a research note issued on Tuesday, October 30th. Piper Jaffray Companies analyst M. Lavery now forecasts that the company will post earnings of $2.00 per share for the year, down from their prior forecast of $2.05. Piper Jaffray Companies also issued estimates for B&G Foods’ Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.58 EPS and FY2019 earnings at $2.11 EPS.
BGS has been the subject of a number of other research reports. Royal Bank of Canada reiterated a “buy” rating and set a $39.00 price objective on shares of B&G Foods in a research report on Friday, August 3rd. Credit Suisse Group lifted their price objective on B&G Foods from $21.00 to $23.00 and gave the stock an “underperform” rating in a research report on Wednesday. Citigroup dropped their price objective on B&G Foods from $34.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday. ValuEngine cut B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 12th. Finally, Zacks Investment Research cut B&G Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.22.
B&G Foods stock opened at $26.97 on Thursday. The stock has a market cap of $1.79 billion, a P/E ratio of 12.72 and a beta of 0.47. B&G Foods has a 52 week low of $22.00 and a 52 week high of $39.75. The company has a debt-to-equity ratio of 2.51, a current ratio of 3.73 and a quick ratio of 1.31.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $422.60 million during the quarter, compared to analysts’ expectations of $429.53 million. B&G Foods had a return on equity of 15.88% and a net margin of 11.09%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new stake in B&G Foods in the 2nd quarter valued at about $185,000. Cubist Systematic Strategies LLC purchased a new stake in B&G Foods in the 2nd quarter valued at about $205,000. First Allied Advisory Services Inc. purchased a new stake in B&G Foods in the 2nd quarter valued at about $216,000. Selway Asset Management purchased a new stake in B&G Foods in the 2nd quarter valued at about $217,000. Finally, Sei Investments Co. grew its holdings in B&G Foods by 100.5% in the 1st quarter. Sei Investments Co. now owns 9,250 shares of the company’s stock valued at $219,000 after buying an additional 4,637 shares during the period. 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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