Treehouse Foods, Inc. (THS) Releases Quarterly Earnings Results
Treehouse Foods, Inc. (NYSE:THS) released its quarterly earnings results on Wednesday. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11), Bloomberg Earnings reports. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Treehouse Foods had a negative net margin of 3.90% and a positive return on equity of 6.54%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share.
In related news, CEO Sam K. Reed sold 11,480 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $66.32, for a total value of $761,353.60. Following the completion of the transaction, the chief executive officer now directly owns 70,647 shares of the company’s stock, valued at $4,685,309.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.
Several analysts have commented on the stock. William Blair lowered shares of Treehouse Foods from an “outperform” rating to a “market perform” rating in a research report on Thursday. Stephens lowered shares of Treehouse Foods from an “overweight” rating to an “equal weight” rating in a research report on Thursday. BMO Capital Markets reissued a “buy” rating and set a $85.00 price target on shares of Treehouse Foods in a research report on Thursday. Credit Suisse Group set a $68.00 price target on shares of Treehouse Foods and gave the company a “neutral” rating in a research report on Tuesday. Finally, Susquehanna Bancshares Inc set a $74.00 price target on shares of Treehouse Foods and gave the company a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $79.15.
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Treehouse Foods declared that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
About Treehouse Foods
TreeHouse Foods, Inc is a consumer packaged food and beverage manufacturer. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. The Company manufactures a range of shelf stable, refrigerated, fresh and frozen products. Its product categories include beverages, salad dressings, snack nuts, beverage enhancers, pickles, sauces, cereals, pasta and dry dinners, cookies and crackers, retail bakery, aseptic products, jams and other products.
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