Calavo Growers (CVGW) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Calavo Growers (NASDAQ:CVGW) posted its quarterly earnings results on Thursday. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.15, Briefing.com reports. The firm had revenue of $286.00 million during the quarter, compared to analyst estimates of $281.37 million. Calavo Growers had a return on equity of 17.32% and a net margin of 2.70%. Calavo Growers’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS.

NASDAQ CVGW opened at $89.34 on Friday. Calavo Growers has a one year low of $67.52 and a one year high of $108.00. The stock has a market capitalization of $1.61 billion, a P/E ratio of 34.00 and a beta of 1.03.

Several equities analysts have recently issued reports on CVGW shares. BidaskClub raised Calavo Growers from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. TheStreet raised Calavo Growers from a “c” rating to a “b-” rating in a research report on Monday, March 11th. Vertical Group raised Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Thursday, April 4th. ValuEngine raised Calavo Growers from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research lowered Calavo Growers from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Calavo Growers currently has a consensus rating of “Buy” and a consensus price target of $94.80.

In related news, insider James E. Gibson sold 5,770 shares of Calavo Growers stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.20, for a total value of $474,294.00. Following the completion of the sale, the insider now directly owns 52,150 shares in the company, valued at approximately $4,286,730. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James E. Gibson sold 20,000 shares of Calavo Growers stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the insider now owns 52,150 shares of the company’s stock, valued at $4,409,804. The disclosure for this sale can be found here. Insiders sold a total of 35,437 shares of company stock valued at $2,996,922 over the last quarter. 7.30% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Calavo Growers (CVGW) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS” was posted by WKRB News and is owned by of WKRB News. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.wkrb13.com/2019/06/07/calavo-growers-cvgw-releases-quarterly-earnings-results-beats-estimates-by-0-15-eps.html.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.

Further Reading: What are Bollinger Bands?

Earnings History for Calavo Growers (NASDAQ:CVGW)

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.