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

Calavo Growers (NASDAQ:CVGW) issued its quarterly earnings data on Wednesday. The company reported $0.33 EPS for the quarter, beating 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 NASDAQ CVGW traded down $0.61 during midday trading on Wednesday, hitting $21.78. 223,322 shares of the company’s stock were exchanged, compared to its average volume of 194,247. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $23.55 and its two-hundred day moving average price is $25.77. The company has a market cap of $387.68 million, a price-to-earnings ratio of -363.00 and a beta of 0.57. Calavo Growers has a 12-month low of $20.30 and a 12-month high of $31.26.

Calavo Growers Announces Dividend

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

Analyst Ratings Changes

Separately, Lake Street Capital reduced their price target on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research report 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.