Why B&G Foods (BGS) Stock Is Down Today

NEW YORK (TheStreet) -- B&G Foods Inc. (BGS) shares are lower by -3.34% to $29.79 in after-hours trading on Thursday after the company released its 2014 second quarter earnings results which were below analysts' expectations.

B&G Foods reported an increase in net sales 26.1% to $202.9 million, from $160.9 million for the 2013 second quarter, but revenue fell short of the $207.46 million analysts expected, Nasdaq reports.

The company, which sells and distributes shelf-stable food and household products, reported net income on a GAAP basis of $16.1 million, or 30 cents per diluted share for the most recent quarter, compared to a net loss of -1.4 million, -3 cents per share for the year ago period.

 

Adjusted net income was $17.5 million, or 33 cents per adjusted diluted share versus $17.3 million, or 33 cents per adjusted diluted share.

Analysts polled by Thomson Reuters expected earnings of 39 cents per share.

Separately, TheStreet Ratings team rates B&G FOODS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate B&G FOODS INC (BGS) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

BGS Chart BGS data by YCharts

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