Treehouse Foods, Inc. (THS) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS
Treehouse Foods, Inc. (NYSE:THS) released its earnings results on Wednesday. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11), Bloomberg Earnings reports. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Treehouse Foods had a negative net margin of 3.90% and a positive return on equity of 6.54%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share.
In related news, CEO Sam K. Reed sold 11,480 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $67.58, for a total value of $775,818.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.50% of the stock is owned by insiders.
Several brokerages recently issued reports on THS. William Blair cut Treehouse Foods from an “outperform” rating to a “market perform” rating in a research note on Thursday. Stephens cut Treehouse Foods from an “overweight” rating to an “equal weight” rating in a research note on Thursday. BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Treehouse Foods in a research note on Thursday. Credit Suisse Group AG set a $68.00 price objective on Treehouse Foods and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Susquehanna Bancshares Inc set a $74.00 price objective on Treehouse Foods and gave the stock a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $79.15.
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Treehouse Foods announced that its Board of Directors has authorized a stock buyback program on Thursday, November 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Treehouse Foods Company Profile
TreeHouse Foods, Inc is a consumer packaged food and beverage manufacturer. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. The Company manufactures a range of shelf stable, refrigerated, fresh and frozen products. Its product categories include beverages, salad dressings, snack nuts, beverage enhancers, pickles, sauces, cereals, pasta and dry dinners, cookies and crackers, retail bakery, aseptic products, jams and other products.
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