Calavo Growers (NASDAQ:CVGW) Issues Earnings Results

Calavo Growers (NASDAQ:CVGW) released its quarterly earnings data on Tuesday. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01, MarketWatch Earnings reports. The firm had revenue of $270.40 million during the quarter, compared to the consensus estimate of $325.37 million. Calavo Growers had a negative net margin of 1.31% and a positive return on equity of 10.17%. The firm’s revenue was down 24.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share.

Shares of CVGW opened at $65.84 on Friday. Calavo Growers has a 1 year low of $48.31 and a 1 year high of $96.89. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -79.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.82 and a current ratio of 1.21. The firm has a fifty day moving average of $62.28 and a 200-day moving average of $60.71.

A number of equities analysts have commented on the stock. BidaskClub downgraded shares of Calavo Growers from a “hold” rating to a “sell” rating in a report on Saturday, July 11th. Lake Street Capital assumed coverage on shares of Calavo Growers in a report on Tuesday, June 9th. They issued a “buy” rating and a $73.00 price objective for the company. Finally, Zacks Investment Research raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $77.00.

In other news, Director Harold S. Edwards sold 1,600 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $61.42, for a total transaction of $98,272.00. Following the completion of the transaction, the director now owns 6,638 shares of the company’s stock, valued at $407,705.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

About Calavo Growers

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: Cost of Capital Explained

Earnings History for Calavo Growers (NASDAQ:CVGW)

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