B&G Foods (NYSE:BGS) Announces Quarterly Earnings Results

B&G Foods (NYSE:BGS) announced its quarterly earnings data on Wednesday. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02), Briefing.com reports. The firm had revenue of $475.22 million during the quarter, compared to the consensus estimate of $480.93 million. B&G Foods had a negative net margin of 5.42% and a positive return on equity of 8.33%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. B&G Foods updated its FY24 guidance to $0.75-0.95 EPS and its FY 2024 guidance to 0.750-0.950 EPS.

B&G Foods Trading Down 3.3 %

B&G Foods stock traded down $0.27 during midday trading on Friday, hitting $8.01. 4,098,465 shares of the stock were exchanged, compared to its average volume of 1,023,088. The stock has a market capitalization of $633.19 million, a PE ratio of -5.56 and a beta of 0.70. The company has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $10.24. The company has a quick ratio of 0.89, a current ratio of 3.22 and a debt-to-equity ratio of 2.58. B&G Foods has a 52 week low of $7.20 and a 52 week high of $15.15.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.19 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.49%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BGS shares. Piper Sandler upped their target price on shares of B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Wednesday, February 28th. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $9.50.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and 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, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.