Zacks: Analysts Expect Calavo Growers, Inc. (NASDAQ:CVGW) Will Post Quarterly Sales of $312.17 Million

Equities research analysts expect that Calavo Growers, Inc. (NASDAQ:CVGWGet Rating) will announce sales of $312.17 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Calavo Growers’ earnings, with the lowest sales estimate coming in at $309.34 million and the highest estimate coming in at $315.00 million. Calavo Growers reported sales of $276.82 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.8%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Calavo Growers will report full year sales of $1.19 billion for the current financial year, with estimates ranging from $1.18 billion to $1.20 billion. For the next financial year, analysts forecast that the business will report sales of $1.25 billion, with estimates ranging from $1.24 billion to $1.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Calavo Growers.

Calavo Growers (NASDAQ:CVGWGet Rating) last posted its earnings results on Monday, March 14th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $274.09 million during the quarter, compared to analyst estimates of $257.99 million. Calavo Growers had a positive return on equity of 1.16% and a negative net margin of 1.91%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS.

Several equities analysts have recently issued reports on CVGW shares. Zacks Investment Research cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Thursday, March 17th. StockNews.com assumed coverage on Calavo Growers in a research note on Thursday, March 31st. They issued a “sell” rating on the stock.

A number of hedge funds have recently bought and sold shares of the business. Morgan Stanley raised its stake in shares of Calavo Growers by 17.2% in the second quarter. Morgan Stanley now owns 240,977 shares of the company’s stock worth $15,283,000 after buying an additional 35,411 shares during the period. SG Americas Securities LLC grew its position in shares of Calavo Growers by 12.6% during the third quarter. SG Americas Securities LLC now owns 3,238 shares of the company’s stock worth $124,000 after purchasing an additional 362 shares in the last quarter. Raymond James & Associates grew its position in shares of Calavo Growers by 46.5% during the third quarter. Raymond James & Associates now owns 89,224 shares of the company’s stock worth $3,412,000 after purchasing an additional 28,326 shares in the last quarter. Deutsche Bank AG grew its position in shares of Calavo Growers by 188.0% during the third quarter. Deutsche Bank AG now owns 54,452 shares of the company’s stock worth $2,083,000 after purchasing an additional 35,543 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Calavo Growers by 4.8% during the third quarter. Principal Financial Group Inc. now owns 120,568 shares of the company’s stock worth $4,611,000 after purchasing an additional 5,507 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

NASDAQ:CVGW traded up $0.54 during mid-day trading on Wednesday, reaching $31.19. The stock had a trading volume of 153,620 shares, compared to its average volume of 123,644. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.09 and a current ratio of 1.54. Calavo Growers has a one year low of $28.76 and a one year high of $76.18. The firm has a 50 day moving average price of $36.21 and a two-hundred day moving average price of $39.94. The stock has a market capitalization of $552.69 million, a P/E ratio of -25.99 and a beta of 0.79.

About Calavo Growers (Get Rating)

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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