Q3 2017 Earnings Forecast for B&G Foods, Inc. (BGS) Issued By William Blair
B&G Foods, Inc. (NYSE:BGS) – Equities research analysts at William Blair dropped their Q3 2017 earnings per share (EPS) estimates for B&G Foods in a research note issued on Thursday. William Blair analyst J. Andersen now anticipates that the company will post earnings of $0.50 per share for the quarter, down from their prior estimate of $0.53. William Blair also issued estimates for B&G Foods’ FY2018 earnings at $2.25 EPS.
Several other research firms also recently commented on BGS. Berenberg Bank started coverage on shares of B&G Foods in a research report on Tuesday, May 16th. They set a “hold” rating and a $43.50 target price on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $52.00 price target on shares of B&G Foods in a research report on Thursday, April 20th. Zacks Investment Research upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, June 19th. Credit Suisse Group downgraded shares of B&G Foods from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $47.00 to $42.00 in a research report on Thursday, May 18th. Finally, BMO Capital Markets restated a “hold” rating and issued a $45.00 price target on shares of B&G Foods in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.81.
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Shares of B&G Foods (NYSE BGS) opened at 32.10 on Monday. The company has a market cap of $2.13 billion, a P/E ratio of 19.19 and a beta of 0.09. B&G Foods has a 52 week low of $31.15 and a 52 week high of $51.56. The firm has a 50-day moving average of $36.18 and a 200 day moving average of $40.53.
B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.06. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The firm had revenue of $368.10 million during the quarter, compared to the consensus estimate of $376.45 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Azimuth Capital Management LLC increased its position in shares of B&G Foods by 4.3% in the first quarter. Azimuth Capital Management LLC now owns 96,082 shares of the company’s stock worth $3,867,000 after buying an additional 4,005 shares during the period. Diversified Trust Co purchased a new position in shares of B&G Foods during the second quarter worth about $215,000. BNP Paribas Arbitrage SA increased its position in shares of B&G Foods by 9.4% in the first quarter. BNP Paribas Arbitrage SA now owns 13,366 shares of the company’s stock worth $538,000 after buying an additional 1,143 shares during the period. Torch Wealth Management LLC increased its position in shares of B&G Foods by 0.6% in the first quarter. Torch Wealth Management LLC now owns 39,300 shares of the company’s stock worth $1,582,000 after buying an additional 225 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of B&G Foods by 15.6% in the first quarter. Principal Financial Group Inc. now owns 1,379,585 shares of the company’s stock worth $55,528,000 after buying an additional 186,531 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a $0.465 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.79%. B&G Foods’s dividend payout ratio (DPR) is currently 122.37%.
About B&G Foods
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products.
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