B&G Foods (NYSE:BGS) Posts Earnings Results, Beats Expectations By $0.01 EPS

B&G Foods (NYSE:BGS) issued its quarterly earnings data on Tuesday. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01, Zacks reports. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%.

B&G Foods Stock Up 1.7 %

NYSE BGS traded up $0.12 during trading hours on Tuesday, hitting $6.86. 2,550,374 shares of the company were exchanged, compared to its average volume of 1,546,642. The company has a 50 day moving average of $6.61 and a two-hundred day moving average of $7.51. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The firm has a market cap of $542.64 million, a price-to-earnings ratio of -20.16 and a beta of 0.50. B&G Foods has a 52-week low of $5.45 and a 52-week high of $11.97.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.09%. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen cut their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Barclays cut their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Evercore ISI dropped their price objective on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, B&G Foods currently has a consensus rating of “Hold” and an average price target of $8.30.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.