Bob Evans Farms, Inc. (BOBE) Expected to Announce Earnings of $0.35 Per Share
Wall Street brokerages predict that Bob Evans Farms, Inc. (NASDAQ:BOBE) will report earnings of $0.35 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Bob Evans Farms’ earnings. Bob Evans Farms posted earnings of $0.56 per share in the same quarter last year, which suggests a negative year over year growth rate of 37.5%. The firm is expected to report its next quarterly earnings report on Monday, December 4th.
According to Zacks, analysts expect that Bob Evans Farms will report full year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.22. For the next fiscal year, analysts expect that the business will report earnings of $2.48 per share, with EPS estimates ranging from $2.43 to $2.52. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Bob Evans Farms.
Bob Evans Farms (NASDAQ:BOBE) last announced its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.29 million. Bob Evans Farms had a net margin of 19.49% and a return on equity of 19.52%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS.
Several equities analysts have recently weighed in on BOBE shares. Zacks Investment Research raised shares of Bob Evans Farms from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Monday, September 4th. CIBC reissued a “market perform” rating and issued a $77.00 price target on shares of Bob Evans Farms in a research note on Monday, June 5th. BidaskClub downgraded shares of Bob Evans Farms from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reissued a “market perform” rating and issued a $77.00 price target on shares of Bob Evans Farms in a research note on Monday, June 5th. Finally, Maxim Group raised their price target on shares of Bob Evans Farms from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, June 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $74.77.
In other Bob Evans Farms news, SVP Thomas Alan Ashworth sold 7,100 shares of Bob Evans Farms stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00. Following the transaction, the senior vice president now directly owns 4,367 shares of the company’s stock, valued at $308,746.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in Bob Evans Farms during the second quarter worth about $727,000. Public Employees Retirement System of Ohio raised its stake in Bob Evans Farms by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 3,610 shares of the restaurant operator’s stock worth $259,000 after purchasing an additional 29 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Bob Evans Farms during the second quarter worth about $307,000. Ameritas Investment Partners Inc. raised its stake in Bob Evans Farms by 7.1% during the second quarter. Ameritas Investment Partners Inc. now owns 1,740 shares of the restaurant operator’s stock worth $125,000 after purchasing an additional 115 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Bob Evans Farms by 924.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 73,886 shares of the restaurant operator’s stock worth $5,307,000 after purchasing an additional 66,677 shares during the period. 77.63% of the stock is currently owned by institutional investors.
Shares of Bob Evans Farms (NASDAQ:BOBE) traded up 1.99% during mid-day trading on Friday, hitting $71.91. 386,023 shares of the stock traded hands. The company has a market cap of $1.43 billion, a P/E ratio of 11.67 and a beta of 0.55. Bob Evans Farms has a 12 month low of $36.88 and a 12 month high of $75.34. The firm has a 50 day moving average of $67.08 and a 200 day moving average of $66.76.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Monday, September 4th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Wednesday, August 30th. Bob Evans Farms’s dividend payout ratio (DPR) is presently 22.08%.
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About Bob Evans Farms
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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