B&G Foods Given Neutral Rating at Credit Suisse (BGS)
B&G Foods (NYSE:BGS)‘s stock had its “neutral” rating reaffirmed by stock analysts at Credit Suisse in a report issued on Thursday, StockRatingsNetwork.com reports.
The analysts wrote, “B&G Foods reported adjusted 4Q EPS of $0.39 that missed consensus by 5c. Adjusted full-year EBITDA of $184M fell $7M short of mid-point guidance for the year. While sales growth was ahead of expectations, higher than planned expenses in both cost of goods and SG&A accounted for the most of the miss. Increased volume over the past year and a half has strained warehouse facilities, but management expects this pressure to ease as they increase capex this year to $20M (up $5M from original guidance) to relocate two facilities in 1H.”
Shares of B&G Foods (NYSE:BGS) opened at 30.69 on Thursday. B&G Foods has a 1-year low of $27.61 and a 1-year high of $37.66. The stock has a 50-day moving average of $33.05 and a 200-day moving average of $34.16. The company has a market cap of $1.640 billion and a P/E ratio of 37.88.
B&G Foods (NYSE:BGS) last released its earnings data on Wednesday, February 12th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.05. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.87 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts expect that B&G Foods will post $1.49 EPS for the current fiscal year.
BGS has been the subject of a number of other recent research reports. Analysts at Piper Jaffray downgraded shares of B&G Foods from an “overweight” rating to a “neutral” rating in a research note on Thursday. Separately, analysts at Stephens initiated coverage on shares of B&G Foods in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $36.00 price target on the stock. Finally, analysts at RBC Capital initiated coverage on shares of B&G Foods in a research note on Monday, November 25th. They set a “sector perform” rating and a $36.00 price target on the stock. Six research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $36.55.
B&G Foods, Inc (NYSE:BGS), manufactures, sells and distributes a range of branded shelf-stable food and household products across the United States, Canada and Puerto Rico.
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