Calavo Growers (NASDAQ:CVGW) Announces Earnings Results

Calavo Growers (NASDAQ:CVGW) posted its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25), Briefing.com reports. The company had revenue of $169.96 million for the quarter, compared to analyst estimates of $161.99 million. Calavo Growers had a positive return on equity of 6.35% and a negative net margin of 1.21%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.33) EPS.

Calavo Growers Stock Performance

Shares of CVGW traded up $0.59 during mid-day trading on Tuesday, reaching $24.16. The company’s stock had a trading volume of 257,859 shares, compared to its average volume of 202,063. The company has a current ratio of 2.04, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. Calavo Growers has a 1-year low of $20.30 and a 1-year high of $31.26. The business has a 50-day simple moving average of $26.40 and a two-hundred day simple moving average of $25.66. The stock has a market cap of $430.05 million, a P/E ratio of -48.32 and a beta of 0.58.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be paid a $0.20 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.80 annualized dividend and a yield of 3.31%. Calavo Growers’s dividend payout ratio (DPR) is currently -160.00%.

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.