Calavo Growers (NASDAQ:CVGW) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Calavo Growers (NASDAQ:CVGW) posted its quarterly earnings data on Wednesday. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04, Zacks reports. Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%.

Calavo Growers Price Performance

Shares of Calavo Growers stock traded down $0.61 during trading on Wednesday, hitting $21.78. 223,321 shares of the company’s stock traded hands, compared to its average volume of 193,342. Calavo Growers has a twelve month low of $20.30 and a twelve month high of $31.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The company has a market cap of $387.68 million, a PE ratio of -363.00 and a beta of 0.57. The firm’s fifty day moving average price is $23.55 and its 200 day moving average price is $25.77.

Calavo Growers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, January 10th. Calavo Growers’s dividend payout ratio is -1,333.33%.

Analyst Ratings Changes

Separately, Lake Street Capital lowered their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th.

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 worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.