B&G Foods (NYSE:BGS) Releases FY19 Earnings Guidance

B&G Foods (NYSE:BGS) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ~$1.85-2.00 for the period, compared to the Thomson Reuters consensus estimate of $1.80. The company issued revenue guidance of ~$1.665-1.70 billion, compared to the consensus revenue estimate of $1.65 billion.

B&G Foods stock traded up $2.07 during mid-day trading on Friday, hitting $19.97. The company’s stock had a trading volume of 4,749,584 shares, compared to its average volume of 1,176,417. The stock’s 50 day moving average is $20.38. The firm has a market cap of $1.17 billion, a P/E ratio of 10.79 and a beta of 0.47. The company has a current ratio of 2.15, a quick ratio of 0.74 and a debt-to-equity ratio of 1.90. B&G Foods has a 52-week low of $17.76 and a 52-week high of $33.00.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $371.20 million during the quarter, compared to the consensus estimate of $370.24 million. B&G Foods had a return on equity of 13.03% and a net margin of 10.75%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. As a group, equities analysts forecast that B&G Foods will post 1.8 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 9.51%. The ex-dividend date is Friday, September 27th. B&G Foods’s dividend payout ratio is currently 102.70%.

BGS has been the subject of several research analyst reports. Evercore ISI initiated coverage on B&G Foods in a research note on Tuesday, June 11th. They issued an in-line rating and a $25.00 price objective for the company. Zacks Investment Research raised B&G Foods from a sell rating to a hold rating in a research note on Wednesday, May 1st. ValuEngine lowered B&G Foods from a sell rating to a strong sell rating in a report on Saturday, June 22nd. Finally, Barclays reissued a hold rating and set a $22.00 price objective on shares of B&G Foods in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. B&G Foods has a consensus rating of Hold and an average target price of $26.19.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and 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, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.

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Earnings History and Estimates for B&G Foods (NYSE:BGS)

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