Calavo Growers, Inc. (NASDAQ:CVGW) – Investment analysts at Jefferies Financial Group dropped their Q4 2020 earnings estimates for Calavo Growers in a research note issued to investors on Wednesday, September 9th. Jefferies Financial Group analyst R. Dickerson now expects that the company will post earnings of $0.62 per share for the quarter, down from their prior forecast of $0.67. Jefferies Financial Group also issued estimates for Calavo Growers’ Q3 2021 earnings at $1.03 EPS and Q3 2022 earnings at $1.15 EPS.
Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, September 8th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Calavo Growers had a negative net margin of 1.31% and a positive return on equity of 10.17%. The firm had revenue of $270.40 million for the quarter, compared to analyst estimates of $325.37 million. During the same quarter last year, the business earned $0.91 earnings per share. Calavo Growers’s revenue was down 24.7% compared to the same quarter last year.
Shares of NASDAQ CVGW opened at $65.84 on Friday. Calavo Growers has a 1 year low of $48.31 and a 1 year high of $96.89. The firm’s 50 day moving average price is $62.28 and its 200 day moving average price is $60.71. The firm has a market cap of $1.15 billion, a P/E ratio of -79.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.82 and a current ratio of 1.21.
Several hedge funds have recently modified their holdings of CVGW. Smith Asset Management Group LP purchased a new position in shares of Calavo Growers in the 1st quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Calavo Growers by 22.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,385 shares of the company’s stock worth $80,000 after buying an additional 258 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Calavo Growers in the second quarter worth about $81,000. Everence Capital Management Inc. purchased a new stake in shares of Calavo Growers in the second quarter worth about $211,000. Finally, Jacobs & Co. CA purchased a new stake in shares of Calavo Growers in the second quarter worth about $214,000. 84.58% of the stock is currently owned by institutional investors and hedge funds.
In other Calavo Growers news, Director Harold S. Edwards sold 1,600 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $61.42, for a total transaction of $98,272.00. Following the transaction, the director now owns 6,638 shares of the company’s stock, valued at $407,705.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.30% of the company’s stock.
About Calavo Growers
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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