B&G Foods, Inc. (BGS) Posts Earnings Results, Beats Expectations By $0.08 EPS

B&G Foods, Inc. (NYSE:BGS) announced its quarterly earnings data on Tuesday. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08, Bloomberg Earnings reports. B&G Foods had a return on equity of 15.52% and a net margin of 6.29%. The company had revenue of $408.40 million for the quarter, compared to analysts’ expectations of $391.31 million. During the same quarter in the prior year, the business posted $0.56 EPS. The business’s revenue was up 28.3% compared to the same quarter last year. B&G Foods updated its FY17 guidance to $2.03-$2.17 EPS.

BGS has been the topic of a number of analyst reports. Stephens upgraded B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective on the stock in a research note on Wednesday. Barclays PLC dropped their price target on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 8th. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, October 17th. Credit Suisse Group set a $36.00 price target on B&G Foods and gave the company a “hold” rating in a research note on Saturday, August 5th. Finally, BidaskClub upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. B&G Foods currently has an average rating of “Buy” and a consensus price target of $40.61.

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B&G Foods Company Profile

B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, 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, wine vinegar, maple syrup, 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, nut clusters and other specialty products.

Earnings History for B&G Foods (NYSE:BGS)

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