Analysts expect that Calavo Growers (NASDAQ:CVGW) will announce earnings of $0.84 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Calavo Growers’ earnings. Calavo Growers reported earnings per share of $0.74 during the same quarter last year, which suggests a positive year over year growth rate of 13.5%. The company is expected to issue its next earnings results on Tuesday, June 5th.
According to Zacks, analysts expect that Calavo Growers will report full year earnings of $3.17 per share for the current fiscal year, with EPS estimates ranging from $3.15 to $3.18. For the next fiscal year, analysts forecast that the company will report earnings of $3.70 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Calavo Growers.
Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Wednesday, March 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. Calavo Growers had a net margin of 3.57% and a return on equity of 16.95%. The business had revenue of $247.90 million for the quarter, compared to analyst estimates of $272.89 million. During the same period last year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis.
A number of research firms recently weighed in on CVGW. Buckingham Research reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $88.00) on shares of Calavo Growers in a research report on Thursday, March 8th. Lake Street Capital set a $91.00 target price on shares of Calavo Growers and gave the company a “buy” rating in a research report on Thursday, March 8th. Stephens raised their target price on shares of Calavo Growers to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 21st. BidaskClub downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Calavo Growers currently has a consensus rating of “Buy” and a consensus target price of $96.25.
In other news, Director J Link Leavens sold 7,500 shares of Calavo Growers stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $92.31, for a total value of $692,325.00. Following the completion of the transaction, the director now owns 92,528 shares of the company’s stock, valued at approximately $8,541,259.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Browne sold 6,500 shares of Calavo Growers stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $92.15, for a total transaction of $598,975.00. Following the completion of the transaction, the vice president now directly owns 13,117 shares of the company’s stock, valued at approximately $1,208,731.55. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CVGW. We Are One Seven LLC grew its position in shares of Calavo Growers by 799.4% in the 1st quarter. We Are One Seven LLC now owns 1,430 shares of the company’s stock valued at $132,000 after acquiring an additional 1,271 shares during the period. SG Americas Securities LLC bought a new position in shares of Calavo Growers in the 1st quarter valued at about $142,000. Ellington Management Group LLC bought a new position in shares of Calavo Growers in the 4th quarter valued at about $203,000. AMP Capital Investors Ltd bought a new position in shares of Calavo Growers in the 4th quarter valued at about $211,000. Finally, Amalgamated Bank bought a new position in shares of Calavo Growers in the 1st quarter valued at about $212,000. 86.37% of the stock is owned by institutional investors.
Shares of NASDAQ:CVGW traded up $0.20 during midday trading on Friday, reaching $88.15. 8,359 shares of the company were exchanged, compared to its average volume of 139,685. Calavo Growers has a fifty-two week low of $65.75 and a fifty-two week high of $98.85. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 41.29 and a beta of 0.65.
About Calavo Growers
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.
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