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Bob Evans Farms Begins To Streamline

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Bob Evans Farms Inc.

Bob Evans Farms Inc. (BOBE) is set to release earnings before the market opens on Thursday, June 15th. Both EPS and Revenue are expected to take a downturn compared to the previous two quarters, where BOBE saw steady increases and EPS values beat the street. Looking ahead to Thursday, the Estimize community has come to a consensus of $.50 for EPS which is 2 cents above the Wall Street consensus. For revenue, Estimize comes in at $317.96 which is slightly lower than the Street ($318.1).

The provider of breakfast meats and potluck dinners made an unexpected turn when it decided to sell its restaurant division to Golden Gate Capital for $565 million in January. The money that was generated from the sale enabled Bob Evans to pay off their debt, and pleased the shareholders with a dividend of $7.50 per share. With the sale of the restaurant division, it seems that BOBE is refocusing on production and supply food products. This is reassured with the fact they also completed an acquisition of Pineland Farms Potato Co., which will increase the production of their mashed potatoes. The 12-month price target sits at $75.50.

What are you expecting for BOBE? Get your estimate in here!

(Photo Credit: Canadian Pacific)

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Earnings News Previews Restaurants Trading Ideas General

 

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