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

B&G Foods (NYSE:BGS) posted its earnings results on Tuesday. The company reported $0.31 EPS for the quarter, beating 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 Performance

Shares of B&G Foods stock traded up $0.12 during trading on Tuesday, reaching $6.86. The company’s stock had a trading volume of 2,550,374 shares, compared to its average volume of 1,546,642. The company has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $7.51. B&G Foods has a fifty-two week low of $5.45 and a fifty-two week high of $11.97. The firm has a market cap of $542.64 million, a PE ratio of -20.16 and a beta of 0.50. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.09%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s payout ratio is currently -223.52%.

Analysts Set New Price Targets

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

About B&G Foods

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.