Bob Evans Farms, Inc. (BOBE) Releases FY18 Earnings Guidance
Bob Evans Farms, Inc. (NASDAQ:BOBE) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.10-2.30 for the period, compared to the Thomson Reuters consensus estimate of $2.17. The company issued revenue guidance of $474-486 million, compared to the consensus revenue estimate of $472.37 million.
Several brokerages have recently commented on BOBE. BidaskClub upgraded Bob Evans Farms from a hold rating to a buy rating in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. restated a market perform rating and issued a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. Zacks Investment Research upgraded Bob Evans Farms from a sell rating to a hold rating in a research report on Friday, August 4th. Maxim Group boosted their price objective on Bob Evans Farms from $74.00 to $80.00 and gave the company a buy rating in a research report on Tuesday, June 13th. Finally, CIBC restated a market perform rating and issued a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Bob Evans Farms presently has an average rating of Hold and a consensus price target of $73.77.
Shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) opened at 68.78 on Friday. The company has a 50 day moving average price of $66.89 and a 200-day moving average price of $65.96. Bob Evans Farms, Inc. has a 52-week low of $36.88 and a 52-week high of $75.34. The stock has a market capitalization of $1.37 billion, a P/E ratio of 10.94 and a beta of 0.54.
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 the Thomson Reuters’ consensus estimate of $0.37. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The company had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.29 million. During the same period in the previous year, the firm posted $0.48 EPS. Bob Evans Farms’s revenue was up 27.2% compared to the same quarter last year. On average, analysts predict that Bob Evans Farms, Inc. will post $2.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Monday, September 4th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, August 30th. Bob Evans Farms’s payout ratio is 22.08%.
In related news, SVP Thomas Alan Ashworth sold 7,100 shares of Bob Evans Farms stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total value of $501,970.00. Following the sale, the senior vice president now directly owns 4,367 shares in the company, valued at approximately $308,746.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.
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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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