Calavo Growers (NASDAQ:CVGW) Releases Earnings Results, Misses Estimates By $0.25 EPS

Calavo Growers (NASDAQ:CVGW) issued its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25), Briefing.com reports. Calavo Growers had a positive return on equity of 6.35% and a negative net margin of 1.21%. The business had revenue of $169.96 million during the quarter, compared to analysts’ expectations of $161.99 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year.

Calavo Growers Stock Down 6.8 %

Shares of NASDAQ CVGW opened at $22.52 on Thursday. Calavo Growers has a 52-week low of $20.30 and a 52-week high of $31.26. The firm has a market capitalization of $400.86 million, a price-to-earnings ratio of -45.04 and a beta of 0.58. The stock has a 50 day moving average price of $26.31 and a 200 day moving average price of $25.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04.

Calavo Growers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Friday, January 10th. Calavo Growers’s dividend payout ratio is presently -160.00%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital reduced their target price on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday.

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 worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.