Calavo Growers (NASDAQ:CVGW) Issues Earnings Results, Beats Estimates By $0.04 EPS

Calavo Growers (NASDAQ:CVGW) released its quarterly earnings results on Wednesday. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04, Zacks reports. Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%.

Calavo Growers Trading Down 2.7 %

NASDAQ:CVGW traded down $0.61 during trading hours on Wednesday, reaching $21.78. The company’s stock had a trading volume of 223,322 shares, compared to its average volume of 194,247. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. The firm has a market capitalization of $387.68 million, a price-to-earnings ratio of -363.00 and a beta of 0.57. The firm has a 50-day simple moving average of $23.55 and a 200-day simple moving average of $25.77. Calavo Growers has a 1 year low of $20.30 and a 1 year high of $31.26.

Calavo Growers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a $0.20 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.67%. Calavo Growers’s dividend payout ratio (DPR) is -1,333.33%.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital reduced their price objective on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

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 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.