$0.53 EPS Expected for Pinnacle Foods Inc (PF) This Quarter
Analysts expect Pinnacle Foods Inc (NYSE:PF) to report $0.53 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Pinnacle Foods’ earnings. The lowest EPS estimate is $0.49 and the highest is $0.55. Pinnacle Foods posted earnings per share of $0.42 in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, July 27th.
According to Zacks, analysts expect that Pinnacle Foods will report full-year earnings of $2.59 per share for the current fiscal year, with EPS estimates ranging from $2.58 to $2.60. For the next financial year, analysts anticipate that the company will report earnings of $2.79 per share, with EPS estimates ranging from $2.72 to $2.82. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Pinnacle Foods.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, April 27th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. Pinnacle Foods had a return on equity of 13.25% and a net margin of 6.76%. The business had revenue of $766.10 million for the quarter, compared to analysts’ expectations of $766.52 million. During the same quarter last year, the firm earned $0.40 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis.
Several equities analysts have weighed in on the stock. Jefferies Group LLC assumed coverage on shares of Pinnacle Foods in a research report on Tuesday, April 11th. They set a “buy” rating and a $67.00 price objective on the stock. Credit Suisse Group AG set a $62.00 price objective on shares of Pinnacle Foods and gave the stock a “buy” rating in a research report on Thursday, April 20th. Royal Bank of Canada reiterated a “buy” rating and set a $66.00 price objective on shares of Pinnacle Foods in a research report on Friday, April 28th. Berenberg Bank assumed coverage on shares of Pinnacle Foods in a research report on Tuesday, May 16th. They set a “buy” rating and a $68.00 price objective on the stock. Finally, Deutsche Bank AG lifted their price objective on shares of Pinnacle Foods from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $60.36.
In related news, Director Ioannis Skoufalos purchased 1,755 shares of the stock in a transaction dated Monday, February 27th. The shares were acquired at an average cost of $56.90 per share, for a total transaction of $99,859.50. Following the acquisition, the director now directly owns 6,262 shares in the company, valued at approximately $356,307.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael J. Barkley sold 10,000 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $60.44, for a total transaction of $604,400.00. Following the transaction, the executive vice president now owns 17,355 shares in the company, valued at $1,048,936.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,829 shares of company stock worth $14,309,451. 2.75% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of PF. Tower Research Capital LLC TRC boosted its position in Pinnacle Foods by 599.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock valued at $121,000 after buying an additional 1,797 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Pinnacle Foods by 107.1% in the first quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock valued at $168,000 after buying an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pinnacle Foods by 14.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the company’s stock valued at $175,000 after buying an additional 441 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Pinnacle Foods during the first quarter valued at approximately $204,000. Finally, M&T Bank Corp bought a new position in Pinnacle Foods during the first quarter valued at approximately $217,000.
Pinnacle Foods (NYSE:PF) traded down 0.10% during midday trading on Wednesday, hitting $60.99. The stock had a trading volume of 1,557,763 shares. Pinnacle Foods has a one year low of $41.87 and a one year high of $63.75. The stock has a market cap of $7.24 billion, a PE ratio of 34.54 and a beta of 0.30. The firm has a 50 day moving average price of $58.61 and a 200 day moving average price of $55.00.
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Pinnacle Foods Company Profile
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through four segments: Frozen segment, the Grocery segment, the Boulder segment and the Specialty segment. Its products are sold through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centers, convenience stores, dollar stores, drug stores and warehouse clubs in the United States and Canada, as well as in military channels and foodservice locations.
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