$0.41 Earnings Per Share Expected for Calavo Growers, Inc. (CVGW) This Quarter
Wall Street analysts forecast that Calavo Growers, Inc. (NASDAQ:CVGW) will post earnings of $0.41 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Calavo Growers’ earnings. Calavo Growers posted earnings per share of $0.53 during the same quarter last year, which indicates a negative year-over-year growth rate of 22.6%. The business is expected to report its next quarterly earnings report on Tuesday, December 19th.
On average, analysts expect that Calavo Growers will report full year earnings of $2.05 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.10. For the next financial year, analysts anticipate that the firm will post earnings of $2.86 per share, with EPS estimates ranging from $2.82 to $2.90. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Calavo Growers.
Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Wednesday, September 6th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. The business had revenue of $301.65 million during the quarter, compared to the consensus estimate of $278.66 million. Calavo Growers had a return on equity of 16.07% and a net margin of 3.46%. Calavo Growers’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share.
A number of analysts recently commented on CVGW shares. BidaskClub raised Calavo Growers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Tuesday, August 22nd. Finally, Buckingham Research decreased their target price on Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $79.40.
A number of institutional investors and hedge funds have recently modified their holdings of CVGW. Acrospire Investment Management LLC increased its holdings in Calavo Growers by 561.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock worth $122,000 after purchasing an additional 1,500 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Calavo Growers by 54.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock worth $126,000 after purchasing an additional 734 shares in the last quarter. SG Americas Securities LLC bought a new stake in Calavo Growers during the 2nd quarter worth approximately $128,000. PNC Financial Services Group Inc. increased its holdings in Calavo Growers by 7.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,169 shares of the company’s stock worth $131,000 after purchasing an additional 142 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its holdings in Calavo Growers by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after purchasing an additional 29 shares in the last quarter. 86.93% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece of content was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/23/0-41-earnings-per-share-expected-for-calavo-growers-inc-cvgw-this-quarter.html.
Calavo Growers (NASDAQ:CVGW) opened at 70.70 on Monday. The company’s 50 day moving average price is $70.99 and its 200-day moving average price is $69.44. Calavo Growers has a 12-month low of $48.75 and a 12-month high of $76.85. The company has a market capitalization of $1.24 billion, a P/E ratio of 34.15 and a beta of 0.70.
The business also recently disclosed an annual dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.95 per share. This is a positive change from Calavo Growers’s previous annual dividend of $0.90. This represents a yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 16th. Calavo Growers’s payout ratio is currently 43.48%.
Calavo Growers Company Profile
Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Calavo Growers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calavo Growers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.