Miller Tabak + Co: Estimates on Bob Evans Appear Above Consensus as 4Q12 Earnings Report Approaches

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According to a research report this morning, Miller Tabak + Co reports its estimates for 4Q12 of $0.75 on Bob Evans (NASDAQ: BOBE) appear to be above the consensus of $0.74 as the company continues to make cost reductions. Miller Tabak + Co stated, “We anticipate upside today on this news, which we argue highlights management's continued diligence on cost reductions. With efficiency gains obtained from distribution in the Food Products division (19% of total sales), management has been seeking similar gains from production. BOBE closed itsn Galva, IL plant in August 2010, and yesterday announced plans to two additional plants.”Bob Evans closed yesterday at $40.96 as Miller Tabak + Co maintains its Hold rating and $43 PT.

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