Analysts Anticipate Blue Buffalo Pet Products, Inc. (BUFF) Will Announce Earnings of $0.25 Per Share

Wall Street brokerages predict that Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) will report earnings of $0.25 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Blue Buffalo Pet Products’ earnings, with estimates ranging from $0.23 to $0.28. Blue Buffalo Pet Products posted earnings per share of $0.22 in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.6%. The company is expected to report its next quarterly earnings results on Thursday, November 9th.

According to Zacks, analysts expect that Blue Buffalo Pet Products will report full year earnings of $0.92 per share for the current fiscal year, with EPS estimates ranging from $0.89 to $0.95. For the next financial year, analysts forecast that the firm will report earnings of $1.04 per share, with EPS estimates ranging from $0.97 to $1.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Blue Buffalo Pet Products.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $294.80 million during the quarter, compared to analysts’ expectations of $301.88 million. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. Blue Buffalo Pet Products’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share.

A number of analysts recently commented on BUFF shares. Susquehanna Bancshares Inc set a $32.00 target price on Blue Buffalo Pet Products and gave the company a “buy” rating in a research report on Thursday, May 25th. Off Wall Street started coverage on Blue Buffalo Pet Products in a research report on Wednesday, June 21st. They issued a “sell” rating for the company. Imperial Capital started coverage on Blue Buffalo Pet Products in a research report on Wednesday, June 28th. They issued an “outperform” rating and a $30.00 target price for the company. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $25.00 target price (down from $28.00) on shares of Blue Buffalo Pet Products in a research report on Wednesday, June 28th. Finally, BidaskClub downgraded Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.90.

Blue Buffalo Pet Products (NASDAQ BUFF) traded down 0.89% on Friday, hitting $25.72. The stock had a trading volume of 1,700,051 shares. The company has a 50-day moving average price of $25.95 and a 200-day moving average price of $24.89. Blue Buffalo Pet Products has a 52 week low of $21.60 and a 52 week high of $26.39. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 36.23 and a beta of 1.91.

Blue Buffalo Pet Products declared that its board has initiated a share repurchase plan on Tuesday, August 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 1.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

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In other Blue Buffalo Pet Products news, CFO Michael Nathenson sold 37,072 shares of Blue Buffalo Pet Products stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $25.58, for a total transaction of $948,301.76. Following the completion of the transaction, the chief financial officer now owns 37,072 shares in the company, valued at approximately $948,301.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 187,072 shares of company stock valued at $4,736,802 in the last quarter. Company insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BUFF. FNY Partners Fund LP boosted its stake in shares of Blue Buffalo Pet Products by 63.7% in the 1st quarter. FNY Partners Fund LP now owns 4,500 shares of the company’s stock worth $103,000 after buying an additional 1,751 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Blue Buffalo Pet Products by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after buying an additional 277 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Blue Buffalo Pet Products in the 2nd quarter worth approximately $138,000. The Manufacturers Life Insurance Company boosted its stake in shares of Blue Buffalo Pet Products by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after buying an additional 533 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Blue Buffalo Pet Products by 38.5% in the 1st quarter. US Bancorp DE now owns 7,193 shares of the company’s stock worth $165,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Blue Buffalo Pet Products

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company operates as a pet food company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under product lines, including BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines.

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Earnings History and Estimates for Blue Buffalo Pet Products (NASDAQ:BUFF)

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