B&G Foods, Inc. Forecasted to Earn FY2018 Earnings of $2.04 Per Share (BGS)

B&G Foods, Inc. (NYSE:BGS) – William Blair cut their FY2018 earnings per share estimates for B&G Foods in a report issued on Tuesday, October 30th. William Blair analyst J. Andersen now anticipates that the company will earn $2.04 per share for the year, down from their previous forecast of $2.10. William Blair also issued estimates for B&G Foods’ FY2019 earnings at $2.15 EPS.

BGS has been the topic of several other research reports. Credit Suisse Group increased their target price on B&G Foods from $21.00 to $23.00 and gave the stock an “underperform” rating in a report on Wednesday. Citigroup decreased their target price on B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. ValuEngine upgraded B&G Foods from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. Zacks Investment Research cut B&G Foods from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Royal Bank of Canada restated a “buy” rating and set a $39.00 target price on shares of B&G Foods in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. B&G Foods has a consensus rating of “Hold” and an average target price of $34.22.

Shares of NYSE:BGS opened at $26.04 on Thursday. B&G Foods has a fifty-two week low of $22.00 and a fifty-two week high of $39.75. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 12.28 and a beta of 0.47. The company has a current ratio of 3.73, a quick ratio of 1.31 and a debt-to-equity ratio of 2.51.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. B&G Foods had a return on equity of 15.88% and a net margin of 11.09%. The firm had revenue of $422.60 million for the quarter, compared to analysts’ expectations of $429.53 million. During the same period in the prior year, the business posted $0.55 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year.

Hedge funds have recently made changes to their positions in the company. US Bancorp DE grew its stake in B&G Foods by 2.1% in the third quarter. US Bancorp DE now owns 98,024 shares of the company’s stock valued at $2,691,000 after purchasing an additional 1,988 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in B&G Foods by 85.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 10,174 shares of the company’s stock valued at $279,000 after purchasing an additional 4,689 shares in the last quarter. Gilman Hill Asset Management LLC grew its stake in B&G Foods by 3.3% in the third quarter. Gilman Hill Asset Management LLC now owns 151,150 shares of the company’s stock valued at $4,149,000 after purchasing an additional 4,845 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in B&G Foods by 54.5% in the third quarter. Oppenheimer & Co. Inc. now owns 86,061 shares of the company’s stock valued at $2,362,000 after purchasing an additional 30,366 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in B&G Foods by 120.3% in the third quarter. First Trust Advisors LP now owns 135,281 shares of the company’s stock valued at $3,713,000 after purchasing an additional 73,861 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in 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 vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.

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

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