$114.57 Million in Sales Expected for Bob Evans Farms, Inc. (BOBE) This Quarter
Wall Street brokerages forecast that Bob Evans Farms, Inc. (NASDAQ:BOBE) will report $114.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Bob Evans Farms’ earnings, with the lowest sales estimate coming in at $114.43 million and the highest estimate coming in at $114.70 million. Bob Evans Farms posted sales of $315.96 million in the same quarter last year, which suggests a negative year over year growth rate of 63.7%. The company is expected to issue its next quarterly earnings results on Monday, December 4th.
According to Zacks, analysts expect that Bob Evans Farms will report full-year sales of $114.57 million for the current fiscal year, with estimates ranging from $469.86 million to $470.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $496.95 million per share, with estimates ranging from $493.50 million to $500.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Bob Evans Farms.
Bob Evans Farms (NASDAQ:BOBE) last posted its quarterly earnings data on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $109.30 million for the quarter, compared to the consensus estimate of $102.29 million. Bob Evans Farms had a net margin of 15.15% and a return on equity of 19.58%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share.
BOBE has been the topic of several recent research reports. Zacks Investment Research upgraded Bob Evans Farms from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. William Blair started coverage on Bob Evans Farms in a research report on Wednesday, May 3rd. They set an “outperform” rating and a $67.41 target price on the stock. Sidoti started coverage on Bob Evans Farms in a research report on Wednesday, August 23rd. They set a “neutral” rating and a $76.00 target price on the stock. Maxim Group increased their target price on Bob Evans Farms from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 13th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating and set a $77.00 target price on shares of Bob Evans Farms in a research report on Monday, June 5th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Bob Evans Farms has an average rating of “Hold” and a consensus target price of $73.77.
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In related news, SVP Thomas Alan Ashworth sold 7,100 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total transaction of $501,970.00. Following the transaction, the senior vice president now directly owns 4,367 shares in the company, valued at $308,746.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bob Evans Farms during the second quarter valued at approximately $727,000. Public Employees Retirement System of Ohio raised its stake in shares of Bob Evans Farms by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,610 shares of the restaurant operator’s stock valued at $259,000 after buying an additional 29 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Bob Evans Farms during the second quarter valued at approximately $307,000. Ameritas Investment Partners Inc. raised its stake in shares of Bob Evans Farms by 7.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,740 shares of the restaurant operator’s stock valued at $125,000 after buying an additional 115 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Bob Evans Farms by 924.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 73,886 shares of the restaurant operator’s stock valued at $5,307,000 after buying an additional 66,677 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.
Bob Evans Farms (NASDAQ BOBE) opened at 68.299 on Thursday. The company has a 50 day moving average of $67.17 and a 200-day moving average of $65.71. Bob Evans Farms has a 12-month low of $36.88 and a 12-month high of $75.34. The stock has a market cap of $1.36 billion, a P/E ratio of 10.865 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Monday, September 4th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 1.99%. Bob Evans Farms’s dividend payout ratio (DPR) is presently 21.69%.
Bob Evans Farms Company Profile
Bob Evans Farms, Inc (Bob Evans) is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen food items under the Bob Evans and Owens or Country Creek brand names. The Company’s food products are distributed to customers throughout the United States.
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