Zacks: Analysts Anticipate Pinnacle Foods, Inc. (PF) Will Announce Earnings of $0.94 Per Share
Analysts forecast that Pinnacle Foods, Inc. (NYSE:PF) will post earnings per share of $0.94 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Pinnacle Foods’ earnings, with estimates ranging from $0.94 to $0.95. Pinnacle Foods reported earnings of $0.79 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 19%. The firm is expected to report its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Pinnacle Foods will report full year earnings of $2.55 per share for the current financial year, with EPS estimates ranging from $2.55 to $2.56. For the next financial year, analysts forecast that the business will post earnings of $2.78 per share, with EPS estimates ranging from $2.72 to $2.83. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Pinnacle Foods.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.58 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. The company had revenue of $749.80 million for the quarter, compared to analysts’ expectations of $753.10 million. During the same period in the prior year, the business earned $0.53 earnings per share. Pinnacle Foods’s revenue for the quarter was down 1.2% compared to the same quarter last year.
A number of brokerages have commented on PF. BidaskClub cut shares of Pinnacle Foods from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Buckingham Research reduced their price target on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Zacks Investment Research cut shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Credit Suisse Group cut their target price on shares of Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Finally, UBS AG restated a “buy” rating and issued a $65.00 target price on shares of Pinnacle Foods in a report on Monday, August 28th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $64.25.
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Pinnacle Foods (NYSE PF) opened at $53.09 on Tuesday. Pinnacle Foods has a 52-week low of $46.36 and a 52-week high of $66.67. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.80. The company has a market cap of $6,456.62, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.31.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th were given a dividend of $0.325 per share. The ex-dividend date was Friday, August 25th. This represents a $1.30 annualized dividend and a yield of 2.45%. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s dividend payout ratio (DPR) is currently 87.84%.
In other Pinnacle Foods news, EVP Mark L. Schiller sold 17,038 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.61, for a total transaction of $1,032,673.18. Following the completion of the transaction, the executive vice president now owns 74,832 shares of the company’s stock, valued at $4,535,567.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Pinnacle Foods by 6.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,334,808 shares of the company’s stock worth $613,888,000 after buying an additional 640,620 shares in the last quarter. Capital World Investors increased its holdings in Pinnacle Foods by 5.9% in the 2nd quarter. Capital World Investors now owns 9,378,050 shares of the company’s stock worth $557,056,000 after buying an additional 525,000 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Pinnacle Foods by 11.8% in the 3rd quarter. Victory Capital Management Inc. now owns 3,226,031 shares of the company’s stock worth $184,433,000 after buying an additional 340,654 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Pinnacle Foods by 66.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,559,700 shares of the company’s stock worth $152,046,000 after buying an additional 1,021,200 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Pinnacle Foods by 2.4% in the 2nd quarter. Franklin Resources Inc. now owns 2,121,315 shares of the company’s stock worth $126,014,000 after buying an additional 50,478 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.
About Pinnacle Foods
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through four segments: Frozen segment, the Grocery segment, the Boulder segment and the Specialty segment. Its products are sold through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centers, convenience stores, dollar stores, drug stores and warehouse clubs in the United States and Canada, as well as in military channels and foodservice locations.
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