Calavo Growers, Inc. (CVGW) Expected to Post Earnings of $0.32 Per Share

Analysts expect that Calavo Growers, Inc. (NASDAQ:CVGW) will announce earnings of $0.32 per share for the current quarter, according to Zacks. Zero analysts have provided estimates for Calavo Growers’ earnings. Calavo Growers posted earnings per share of $0.34 during the same quarter last year, which would indicate a negative year over year growth rate of 5.9%. The firm is scheduled to report its next earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that Calavo Growers will report full-year earnings of $2.86 per share for the current financial year, with EPS estimates ranging from $2.82 to $2.90. For the next fiscal year, analysts expect that the business will post earnings of $3.35 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Calavo Growers.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, December 19th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.09. Calavo Growers had a net margin of 3.47% and a return on equity of 16.01%. The company had revenue of $277.20 million for the quarter, compared to analyst estimates of $297.40 million. During the same period in the prior year, the business earned $0.53 earnings per share. Calavo Growers’s quarterly revenue was up 11.9% on a year-over-year basis.

CVGW has been the topic of a number of research reports. BidaskClub lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Stephens boosted their price target on shares of Calavo Growers from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. Lake Street Capital reissued a “buy” rating and set a $91.00 price target (up from $76.00) on shares of Calavo Growers in a research note on Wednesday, December 20th. Finally, Zacks Investment Research raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $88.00.

In related news, insider James E. Gibson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the completion of the sale, the insider now directly owns 61,991 shares of the company’s stock, valued at $4,905,967.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marc Laurence Brown sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $85.05, for a total transaction of $85,050.00. Following the sale, the director now directly owns 9,600 shares of the company’s stock, valued at $816,480. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Calavo Growers during the second quarter worth approximately $128,000. Pinebridge Investments L.P. raised its stake in shares of Calavo Growers by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after buying an additional 29 shares during the last quarter. Aviance Capital Management LLC bought a new stake in Calavo Growers in the second quarter valued at approximately $153,000. Victory Capital Management Inc. increased its stake in Calavo Growers by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,444 shares of the company’s stock valued at $169,000 after purchasing an additional 367 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in Calavo Growers in the second quarter valued at approximately $230,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Calavo Growers (CVGW) opened at $88.60 on Friday. Calavo Growers has a 12-month low of $48.75 and a 12-month high of $90.85. The stock has a market cap of $1,560.00, a P/E ratio of 41.60 and a beta of 0.65.

TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/01/21/calavo-growers-inc-cvgw-expected-to-post-earnings-of-0-32-per-share.html.

About Calavo Growers

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).

Get a free copy of the Zacks research report on Calavo Growers (CVGW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Calavo Growers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calavo Growers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply