B&G Foods (NYSE:BGS) Releases Earnings Results, Meets Expectations

B&G Foods (NYSE:BGS) issued its earnings results on Tuesday. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28, Briefing.com reports. B&G Foods had a return on equity of 12.31% and a net margin of 4.60%. The firm had revenue of $470.17 million for the quarter, compared to the consensus estimate of $465.82 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. B&G Foods updated its FY 2020
After-Hours guidance to 1.60-1.80 EPS and its FY20 guidance to $1.60-1.80 EPS.

NYSE BGS traded down $0.88 during trading hours on Thursday, reaching $14.87. The company’s stock had a trading volume of 145,841 shares, compared to its average volume of 1,404,142. The firm has a market capitalization of $988.14 million, a price-to-earnings ratio of 12.60 and a beta of 0.50. B&G Foods has a 1-year low of $12.70 and a 1-year high of $26.13. The company has a debt-to-equity ratio of 2.57, a current ratio of 3.47 and a quick ratio of 1.65. The company’s 50-day moving average is $15.14 and its two-hundred day moving average is $16.94.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.475 dividend. The ex-dividend date is Monday, March 30th. This represents a $1.90 dividend on an annualized basis and a yield of 12.78%. B&G Foods’s payout ratio is 115.85%.

BGS has been the topic of a number of recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $15.00 target price on shares of B&G Foods in a research note on Tuesday. ValuEngine upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Piper Sandler lowered their target price on B&G Foods from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday. Piper Jaffray Companies set a $17.00 target price on B&G Foods and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Buckingham Research set a $17.00 target price on B&G Foods and gave the stock a “hold” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $18.56.

About B&G Foods

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 for B&G Foods (NYSE:BGS)

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