FY2017 EPS Estimates for B&G Foods, Inc. Raised by William Blair (BGS)
B&G Foods, Inc. (NYSE:BGS) – Stock analysts at William Blair boosted their FY2017 earnings per share estimates for shares of B&G Foods in a research note issued to investors on Monday. William Blair analyst J. Andersen now forecasts that the company will post earnings per share of $2.17 for the year, up from their prior forecast of $2.15. William Blair also issued estimates for B&G Foods’ FY2018 earnings at $2.33 EPS.
B&G Foods (NYSE:BGS) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.06). The firm had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share.
Several other brokerages have also weighed in on BGS. Citigroup Inc. raised B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, July 20th. BidaskClub raised B&G Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a “buy” rating and set a $52.00 price objective on shares of B&G Foods in a report on Tuesday, July 18th. BMO Capital Markets reduced their price objective on B&G Foods from $45.00 to $39.00 and set a “market perform” rating for the company in a report on Friday, August 4th. Finally, Zacks Investment Research lowered B&G Foods from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.50.
B&G Foods (BGS) opened at 32.50 on Thursday. The firm has a 50-day moving average price of $31.32 and a 200 day moving average price of $36.54. The firm has a market capitalization of $2.16 billion, a PE ratio of 21.33 and a beta of 0.11. B&G Foods has a one year low of $29.50 and a one year high of $49.15.
Large investors have recently bought and sold shares of the business. Tradition Capital Management LLC purchased a new stake in shares of B&G Foods during the second quarter worth $1,346,000. Brookstone Capital Management purchased a new stake in shares of B&G Foods during the second quarter worth $268,000. BNP Paribas Arbitrage SA lifted its position in shares of B&G Foods by 60.7% during the second quarter. BNP Paribas Arbitrage SA now owns 21,479 shares of the company’s stock worth $765,000 after acquiring an additional 8,113 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of B&G Foods during the second quarter worth $215,000. Finally, Azimuth Capital Management LLC lifted its position in shares of B&G Foods by 4.3% during the first quarter. Azimuth Capital Management LLC now owns 96,082 shares of the company’s stock worth $3,867,000 after acquiring an additional 4,005 shares in the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.86 annualized dividend and a dividend yield of 5.72%. B&G Foods’s dividend payout ratio is currently 122.37%.
B&G Foods Company Profile
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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