B&G Foods, Inc. (BGS) Announces Quarterly Earnings Results

B&G Foods, Inc. (NYSE:BGS) issued its earnings results on Tuesday. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.08, Bloomberg Earnings reports. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The company had revenue of $408.40 million for the quarter, compared to analyst estimates of $391.31 million. During the same period in the prior year, the firm 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.

Shares of B&G Foods (NYSE BGS) traded up 12.74% during mid-day trading on Wednesday, reaching $35.85. The company had a trading volume of 3,864,182 shares. The firm’s 50-day moving average is $31.88 and its 200 day moving average is $35.49. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 23.52 and a beta of 0.11. B&G Foods has a 12 month low of $29.50 and a 12 month high of $47.75.

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BGS has been the topic of a number of analyst reports. Zacks Investment Research raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub lowered B&G Foods from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Buckingham Research raised B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, August 23rd. Barclays PLC lowered their price objective on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 8th. Finally, BMO Capital Markets raised B&G Foods from a “market perform” rating to an “outperform” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. B&G Foods presently has an average rating of “Buy” and a consensus price target of $40.61.

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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