Brokers Set Expectations for Calavo Growers, Inc.’s Q4 2021 Earnings (NASDAQ:CVGW)

Calavo Growers, Inc. (NASDAQ:CVGW) – Stock analysts at Seaport Res Ptn lifted their Q4 2021 earnings per share estimates for shares of Calavo Growers in a research report issued to clients and investors on Wednesday, June 9th. Seaport Res Ptn analyst E. Larson now expects that the company will post earnings of $0.62 per share for the quarter, up from their previous estimate of $0.60. Seaport Res Ptn also issued estimates for Calavo Growers’ Q1 2022 earnings at $0.30 EPS, Q3 2022 earnings at $0.91 EPS, Q4 2022 earnings at $0.67 EPS and FY2022 earnings at $2.82 EPS.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Monday, June 7th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.08). The firm had revenue of $276.80 million during 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 company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS.

Several other brokerages have also recently issued reports on CVGW. Lake Street Capital initiated coverage on shares of Calavo Growers in a research report on Friday, June 4th. They set a “buy” rating and a $85.00 price target on the stock. Seaport Global Securities initiated coverage on shares of Calavo Growers in a research report on Friday, February 19th. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a research report on Wednesday, June 2nd. Finally, DA Davidson assumed coverage on shares of Calavo Growers in a research report on Friday, March 5th. They set a “neutral” rating and a $84.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $82.25.

Shares of CVGW stock opened at $68.56 on Friday. 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 stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -159.44 and a beta of 0.87. The stock’s 50-day moving average is $75.90. Calavo Growers has a 1-year low of $56.06 and a 1-year high of $85.40.

In other Calavo Growers news, Director Donald M. Sanders sold 2,000 shares of the stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. Following the transaction, the director now directly owns 17,887 shares in the company, valued at $1,430,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Wedin sold 2,335 shares of the stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $80.21, for a total transaction of $187,290.35. Following the completion of the transaction, the vice president now owns 9,035 shares in the company, valued at $724,697.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,335 shares of company stock worth $425,820. 4.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its stake in Calavo Growers by 2.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,689 shares of the company’s stock valued at $464,000 after purchasing an additional 133 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Calavo Growers by 6.9% during the first quarter. Mutual of America Capital Management LLC now owns 2,222 shares of the company’s stock worth $173,000 after acquiring an additional 143 shares during the last quarter. Fieldpoint Private Securities LLC grew its position in shares of Calavo Growers by 36.9% during the first quarter. Fieldpoint Private Securities LLC now owns 601 shares of the company’s stock worth $47,000 after acquiring an additional 162 shares during the last quarter. Rhumbline Advisers grew its position in shares of Calavo Growers by 0.3% during the first 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 last quarter. Finally, Personal CFO Solutions LLC grew its position in shares of Calavo Growers by 5.6% during the first quarter. Personal CFO Solutions LLC now owns 3,116 shares of the company’s stock worth $242,000 after acquiring an additional 164 shares during the last quarter. Institutional investors own 76.91% of the company’s stock.

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

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