Calavo Growers, Inc. (NASDAQ:CVGW) Expected to Post Earnings of -$0.18 Per Share

Equities research analysts expect Calavo Growers, Inc. (NASDAQ:CVGW) to report ($0.18) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Calavo Growers’ earnings. The lowest EPS estimate is ($0.32) and the highest is ($0.03). Calavo Growers reported earnings of $0.34 per share during the same quarter last year, which would suggest a negative year over year growth rate of 152.9%. The business is expected to report its next earnings results on Monday, December 20th.

On average, analysts expect that Calavo Growers will report full-year earnings of $0.29 per share for the current financial year, with EPS estimates ranging from $0.11 to $0.40. For the next financial year, analysts forecast that the firm will post earnings of $1.34 per share, with EPS estimates ranging from $0.95 to $1.78. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Calavo Growers.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Tuesday, September 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. Calavo Growers had a return on equity of 5.19% and a net margin of 0.72%. The company had revenue of $285.00 million for the quarter, compared to the consensus estimate of $278.97 million. During the same period last year, the business posted $0.73 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year.

A number of brokerages have commented on CVGW. Lake Street Capital cut their price target on shares of Calavo Growers from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 9th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Calavo Growers from a “hold” rating to a “strong sell” rating in a report on Friday, June 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Calavo Growers presently has an average rating of “Hold” and a consensus price target of $76.00.

Shares of NASDAQ CVGW traded down $0.47 during mid-day trading on Friday, hitting $35.33. The company had a trading volume of 1,592 shares, compared to its average volume of 126,260. The firm has a market cap of $624.74 million, a P/E ratio of 87.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.57 and a quick ratio of 1.10. Calavo Growers has a 12 month low of $34.55 and a 12 month high of $85.40. The business’s 50-day simple moving average is $51.78 and its 200-day simple moving average is $66.50.

Several institutional investors have recently modified their holdings of CVGW. Envestnet Asset Management Inc. grew its holdings in Calavo Growers by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,777 shares of the company’s stock worth $4,563,000 after acquiring an additional 1,452 shares during the period. Rhumbline Advisers grew its holdings in Calavo Growers by 0.3% during the 1st quarter. Rhumbline Advisers now owns 47,749 shares of the company’s stock worth $3,707,000 after acquiring an additional 162 shares during the period. Swiss National Bank grew its holdings in Calavo Growers by 1.1% during the 1st quarter. Swiss National Bank now owns 38,300 shares of the company’s stock worth $2,974,000 after acquiring an additional 400 shares during the period. D.A. Davidson & CO. acquired a new stake in Calavo Growers during the 1st quarter worth $3,849,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Calavo Growers by 100.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,497 shares of the company’s stock worth $582,000 after acquiring an additional 3,751 shares during the period. 75.13% of the stock is owned by institutional investors and hedge funds.

About Calavo Growers

Calavo Growers, Inc engages in marketing and distribution of avocados, prepared avocados, and other perishable foods. It operates through the following segments: Fresh Products, Calavo Foods, and Renaissance Food Group. The Fresh Products segment includes operations that involve the distribution of avocados and other fresh produce products.

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Earnings History and Estimates for Calavo Growers (NASDAQ:CVGW)

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