Calavo Growers (NASDAQ:CVGW) released its quarterly earnings results on Monday. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.08), Briefing.com reports. The firm had revenue of $276.80 million for the quarter, compared to analysts’ expectations of $267.63 million. Calavo Growers had a negative net margin of 0.74% and a positive return on equity of 10.79%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS.
Shares of Calavo Growers stock traded down $6.25 on Wednesday, reaching $67.10. The company had a trading volume of 5,396 shares, compared to its average volume of 107,140. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -158.95 and a beta of 0.87. The company has a current ratio of 1.79, a quick ratio of 1.27 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $76.27. Calavo Growers has a 1 year low of $56.06 and a 1 year high of $85.40.
Several research firms have weighed in on CVGW. Seaport Global Securities began coverage on Calavo Growers in a report on Friday, February 19th. They set a “neutral” rating for the company. Zacks Investment Research upgraded Calavo Growers from a “sell” rating to a “hold” rating in a report on Wednesday, June 2nd. DA Davidson assumed coverage on Calavo Growers in a report on Friday, March 5th. They issued a “neutral” rating and a $84.00 target price for the company. Finally, Lake Street Capital assumed coverage on Calavo Growers in a report on Friday, June 4th. They issued a “buy” rating and a $85.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $82.25.
Calavo Growers Company Profile
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates in three segments: Fresh Products, Calavo Foods, and Renaissance Food Group (RFG).
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