Calavo Growers (NASDAQ:CVGW) announced its quarterly earnings results on Thursday. The company reported $0.91 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91, Briefing.com reports. Calavo Growers had a net margin of 2.84% and a return on equity of 17.76%. The business had revenue of $359.30 million for the quarter, compared to analysts’ expectations of $327.83 million. During the same quarter last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. Calavo Growers updated its FY19 guidance to +20% to $2.99 EPS.
Shares of CVGW stock traded up $5.60 during trading hours on Friday, hitting $97.61. 32,025 shares of the company were exchanged, compared to its average volume of 140,680. The firm has a fifty day simple moving average of $89.58 and a 200 day simple moving average of $90.53. The company has a current ratio of 1.39, a quick ratio of 0.94 and a debt-to-equity ratio of 0.01. Calavo Growers has a 52-week low of $67.52 and a 52-week high of $108.00. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 39.20 and a beta of 1.00.
Several research firms have commented on CVGW. BidaskClub upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Lake Street Capital increased their price objective on shares of Calavo Growers from $94.00 to $104.00 in a research note on Friday, June 7th. Finally, Zacks Investment Research lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $96.50.
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. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.
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