Pinnacle Foods Inc (PF) Updates FY14 Earnings Guidance
Pinnacle Foods Inc (NYSE:PF) issued an update on its FY14 earnings guidance on Monday morning. The company provided EPS guidance of $1.70-1.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.74, StockRatingsNetwork reports.
Pinnacle Foods Inc (NYSE:PF) traded down 0.06% during mid-day trading on Monday, hitting $32.90. The stock had a trading volume of 710,784 shares. Pinnacle Foods Inc has a 1-year low of $23.90 and a 1-year high of $35.67. The stock’s 50-day moving average is $32.7 and its 200-day moving average is $29.44. The company has a market cap of $3.859 billion and a price-to-earnings ratio of 36.50.
Pinnacle Foods (NYSE:PF) last released its earnings data on Wednesday, May 14th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.01. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $649.30 million. During the same quarter last year, the company posted $0.34 earnings per share. Pinnacle Foods’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Pinnacle Foods Inc will post $1.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 8th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, May 29th.
Several analysts have recently commented on the stock. Analysts at RBC Capital upgraded shares of Pinnacle Foods from a sector perform rating to an outperform rating in a research note on Thursday. They now have a $36.00 price target on the stock. On a related note, analysts at Credit Suisse upgraded shares of Pinnacle Foods from a neutral rating to an outperform rating in a research note on Friday, June 13th. They now have a $36.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a hold rating on shares of Pinnacle Foods in a research note on Monday, June 2nd. They now have a $35.00 price target on the stock, down previously from $36.00. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $31.70.
In other Pinnacle Foods news, EVP Antonio F. Fernandez sold 5,116 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $33.55, for a total value of $171,641.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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