B&G Foods (BGS) Set to Announce Quarterly Earnings on Tuesday

B&G Foods (NYSE:BGS) is set to post its quarterly earnings results after the market closes on Tuesday, November 5th. Analysts expect B&G Foods to post earnings of $0.20 per share for the quarter. B&G Foods has set its FY24 guidance at $0.70-$0.90 EPS and its FY 2024 guidance at 0.700-0.900 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The firm had revenue of $444.60 million for the quarter, compared to analysts’ expectations of $435.83 million. During the same quarter last year, the company posted $0.15 earnings per share. B&G Foods’s revenue was down 5.3% on a year-over-year basis. On average, analysts expect B&G Foods to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

B&G Foods Stock Performance

Shares of NYSE BGS opened at $8.62 on Friday. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. The firm’s 50-day moving average price is $8.61 and its two-hundred day moving average price is $8.88. B&G Foods has a 52-week low of $7.62 and a 52-week high of $11.97. The stock has a market capitalization of $682.36 million, a P/E ratio of -5.60 and a beta of 0.60.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 8.82%. B&G Foods’s dividend payout ratio is currently -49.35%.

Insider Activity at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Evercore ISI raised shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Piper Sandler dropped their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. Barclays dropped their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.67.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.