Analysts predict that B&G Foods, Inc. (NYSE:BGS) will report $436.93 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for B&G Foods' earnings, with the lowest sales estimate coming in at $429.00 million and the highest estimate coming in at $441.80 million. B&G Foods reported sales of $512.54 million during the same quarter last year, which indicates a negative year over year growth rate of 14.8%. The firm is expected to announce its next earnings results on Thursday, July 29th.
On average, analysts expect that B&G Foods will report full year sales of $2.06 billion for the current fiscal year, with estimates ranging from $2.05 billion to $2.06 billion. For the next year, analysts anticipate that the business will report sales of $2.08 billion, with estimates ranging from $2.07 billion to $2.09 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research firms that follow B&G Foods.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Monday, May 10th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.55 by ($0.03). The firm had revenue of $505.10 million during the quarter, compared to analysts' expectations of $523.88 million. B&G Foods had a net margin of 6.46% and a return on equity of 18.10%. The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS.
Several brokerages have recently issued reports on BGS. Zacks Investment Research upgraded shares of B&G Foods from a "sell" rating to a "hold" rating and set a $30.00 price target for the company in a research note on Tuesday, May 4th. Piper Sandler restated a "neutral" rating and set a $31.00 price target on shares of B&G Foods in a research note on Monday, March 29th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. B&G Foods has a consensus rating of "Hold" and an average price target of $27.50.
Large investors have recently made changes to their positions in the business. Vantage Consulting Group Inc bought a new position in B&G Foods in the 4th quarter valued at $27,000. Eudaimonia Partners LLC bought a new position in B&G Foods in the 4th quarter valued at $36,000. Lazard Asset Management LLC bought a new position in B&G Foods in the 4th quarter valued at $37,000. GPS Wealth Strategies Group LLC bought a new position in B&G Foods in the 1st quarter valued at $47,000. Finally, Eaton Vance Management bought a new position in B&G Foods in the 1st quarter valued at $56,000. 68.57% of the stock is owned by hedge funds and other institutional investors.
NYSE:BGS opened at $30.70 on Thursday. The company has a 50-day moving average price of $31.49. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.12 and a current ratio of 3.51. B&G Foods has a 52 week low of $25.26 and a 52 week high of $47.84. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 15.20 and a beta of 0.43.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Wednesday, June 30th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $1.90 dividend on an annualized basis and a yield of 6.19%. B&G Foods's dividend payout ratio is 84.07%.
About B&G Foods
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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