Analysts predict that Pinnacle Foods (NYSE:PF) will post earnings of $0.57 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Pinnacle Foods’ earnings, with estimates ranging from $0.54 to $0.62. Pinnacle Foods posted earnings of $0.53 per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The firm is expected to report its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that Pinnacle Foods will report full-year earnings of $2.90 per share for the current financial year, with EPS estimates ranging from $2.85 to $2.92. For the next financial year, analysts forecast that the company will report earnings of $3.17 per share, with EPS estimates ranging from $3.08 to $3.25. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Pinnacle Foods.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, May 3rd. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. Pinnacle Foods had a return on equity of 14.39% and a net margin of 17.93%. The company had revenue of $778.83 million during the quarter, compared to analysts’ expectations of $767.94 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis.
PF has been the subject of a number of research reports. Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Friday, March 9th. Jefferies Group reissued a “buy” rating and issued a $67.00 target price on shares of Pinnacle Foods in a report on Thursday, March 1st. Royal Bank of Canada reissued a “buy” rating and issued a $64.00 target price on shares of Pinnacle Foods in a report on Tuesday, April 3rd. JPMorgan Chase & Co. boosted their target price on Pinnacle Foods from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, Credit Suisse Group set a $68.00 target price on Pinnacle Foods and gave the company a “buy” rating in a report on Saturday, May 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.09.
In related news, EVP Mark L. Schiller sold 5,323 shares of the company’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $63.43, for a total transaction of $337,637.89. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Muktesh Pant acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were acquired at an average cost of $56.93 per share, for a total transaction of $1,138,600.00. Following the acquisition, the director now directly owns 49,706 shares of the company’s stock, valued at $2,829,762.58. The disclosure for this purchase can be found here. In the last three months, insiders sold 19,941 shares of company stock worth $1,253,657. Corporate insiders own 1.38% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Assetmark Inc. grew its holdings in Pinnacle Foods by 476.8% during the fourth quarter. Assetmark Inc. now owns 1,840 shares of the company’s stock worth $109,000 after acquiring an additional 1,521 shares during the period. Synovus Financial Corp acquired a new position in Pinnacle Foods during the first quarter worth $113,000. Cerebellum GP LLC acquired a new position in Pinnacle Foods during the fourth quarter worth $133,000. American International Group Inc. acquired a new position in Pinnacle Foods during the fourth quarter worth $147,000. Finally, Fortaleza Asset Management Inc. acquired a new position in Pinnacle Foods during the fourth quarter worth $166,000. 98.37% of the stock is currently owned by hedge funds and other institutional investors.
Pinnacle Foods traded up $0.42, reaching $63.26, on Wednesday, according to Marketbeat.com. The stock had a trading volume of 648,027 shares, compared to its average volume of 1,718,413. The company has a current ratio of 1.47, a quick ratio of 0.67 and a debt-to-equity ratio of 1.12. Pinnacle Foods has a 12-month low of $52.25 and a 12-month high of $66.67. The stock has a market cap of $7.50 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.71 and a beta of 0.45.
About Pinnacle Foods
Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.
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