Oppenheimer Holdings Weighs in on Bob Evans Farms, Inc.’s FY2018 Earnings (BOBE)
Bob Evans Farms, Inc. (NASDAQ:BOBE) – Equities research analysts at Oppenheimer Holdings issued their FY2018 EPS estimates for Bob Evans Farms in a note issued to investors on Monday. Oppenheimer Holdings analyst R. Parikh expects that the restaurant operator will post earnings of $2.18 per share for the year. Oppenheimer Holdings has a “Market Perform” rating and a $77.00 price target on the stock. Oppenheimer Holdings also issued estimates for Bob Evans Farms’ FY2019 earnings at $2.38 EPS.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Bob Evans Farms from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, March 7th. Maxim Group raised their price target on shares of Bob Evans Farms from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 13th. William Blair started coverage on Bob Evans Farms in a report on Wednesday, May 3rd. They set an “outperform” rating and a $67.41 price target on the stock. Finally, CIBC reiterated a “market perform” rating and set a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.28.
Shares of Bob Evans Farms (NASDAQ BOBE) traded up 2.47% during midday trading on Thursday, hitting $72.20. The company had a trading volume of 109,576 shares. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 11.49 and a beta of 0.53. Bob Evans Farms has a 12 month low of $35.63 and a 12 month high of $75.34. The stock’s 50-day moving average price is $69.89 and its 200-day moving average price is $60.70.
Bob Evans Farms (NASDAQ:BOBE) last released its earnings results on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.19. Bob Evans Farms had a return on equity of 19.58% and a net margin of 15.15%. The business had revenue of $99.90 million for the quarter, compared to analyst estimates of $325.70 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year.
Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Bob Evans Farms during the first quarter valued at $1,661,000. Tudor Investment Corp ET AL acquired a new stake in shares of Bob Evans Farms during the first quarter valued at approximately $22,705,000. State Street Corp boosted its stake in shares of Bob Evans Farms by 1.8% in the first quarter. State Street Corp now owns 531,462 shares of the restaurant operator’s stock valued at $34,473,000 after buying an additional 9,181 shares during the period. Bank of America Corp DE boosted its stake in shares of Bob Evans Farms by 14.2% in the first quarter. Bank of America Corp DE now owns 44,874 shares of the restaurant operator’s stock valued at $2,911,000 after buying an additional 5,589 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Bob Evans Farms by 13.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 187,645 shares of the restaurant operator’s stock valued at $12,173,000 after buying an additional 22,049 shares during the period. 78.34% of the stock is currently owned by institutional investors.
In related news, SVP Thomas Alan Ashworth sold 7,100 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total transaction of $501,970.00. Following the sale, the senior vice president now owns 4,367 shares of the company’s stock, valued at $308,746.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 26th. Investors of record on Monday, June 12th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, June 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.93%. Bob Evans Farms’s dividend payout ratio is presently 21.69%.
Bob Evans Farms Company Profile
Bob Evans Farms, Inc (Bob Evans) is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen food items under the Bob Evans and Owens or Country Creek brand names. The Company’s food products are distributed to customers throughout the United States.
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