Shares of Bob Evans Farms Inc BOBE are surging on Monday afternoon, in anticipation of the company’s fourth quarter financial results, scheduled for release after the market closes on Tuesday.
According to Estimize, both experts and the crowd expect to see an 8 percent year-over-year decline in earnings, from $0.48 per share reported in the same quarter last year, to $0.44 in the current quarter. Sales, on the other hand, are expected to surge from $326.4 million to somewhere between $330.58 million (crowd consensus) and $331.31 million (Wall Street consensus).
Looking at the chart above, one thing stands out: There is no clear pattern to suggest a beat or miss for this quarter.
Strategic Transactions
Last Friday, Bob Evans announced it will pursue a strategic transaction, either through a sale-leaseback or tax-free REIT conversion spin-off. The news led Miller Tabak to upgrade the stock’s rating from Hold to Buy.
Shares of the company are up 1.3 percent to $48.06 on Monday afternoon.
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