Analysts Anticipate Blue Buffalo Pet Products, Inc. (BUFF) to Post $0.23 Earnings Per Share
Equities research analysts forecast that Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) will report earnings per share (EPS) of $0.23 for the current quarter, according to Zacks. Six analysts have provided estimates for Blue Buffalo Pet Products’ earnings. The lowest EPS estimate is $0.22 and the highest is $0.24. Blue Buffalo Pet Products posted earnings of $0.18 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.8%. The business is scheduled to announce its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that Blue Buffalo Pet Products will report full year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.91 to $0.95. For the next year, analysts expect that the business will report earnings of $1.03 per share, with EPS estimates ranging from $0.98 to $1.10. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Blue Buffalo Pet Products.
Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The company had revenue of $340.85 million for the quarter, compared to analysts’ expectations of $323.05 million. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share.
Several brokerages recently commented on BUFF. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $32.00 target price on shares of Blue Buffalo Pet Products in a report on Monday. Susquehanna Bancshares Inc set a $34.00 target price on Blue Buffalo Pet Products and gave the stock a “buy” rating in a report on Friday, October 20th. Zacks Investment Research cut Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. J P Morgan Chase & Co cut Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a report on Tuesday, October 17th. Finally, Citigroup Inc. reissued a “top pick” rating on shares of Blue Buffalo Pet Products in a report on Saturday, September 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Blue Buffalo Pet Products has a consensus rating of “Hold” and a consensus price target of $29.60.
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Shares of Blue Buffalo Pet Products (BUFF) traded up $0.32 during trading hours on Friday, reaching $26.82. The company had a trading volume of 3,487,114 shares, compared to its average volume of 1,619,389. Blue Buffalo Pet Products has a 1 year low of $21.51 and a 1 year high of $29.84. The company has a market capitalization of $5,351.91, a PE ratio of 32.32, a price-to-earnings-growth ratio of 1.96 and a beta of 1.94. The company has a debt-to-equity ratio of 1.64, a quick ratio of 4.25 and a current ratio of 5.05.
Blue Buffalo Pet Products declared that its board has authorized a stock repurchase program on Tuesday, August 8th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other Blue Buffalo Pet Products news, CFO Michael Nathenson sold 50,000 shares of Blue Buffalo Pet Products stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares of the company’s stock, valued at approximately $1,250,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William W. Bishop, Jr. sold 21,200 shares of Blue Buffalo Pet Products stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total transaction of $605,896.00. Following the sale, the insider now directly owns 655,090 shares of the company’s stock, valued at approximately $18,722,472.20. The disclosure for this sale can be found here. Insiders have sold a total of 229,927 shares of company stock valued at $5,965,929 in the last three months. Company insiders own 7.70% of the company’s stock.
Several large investors have recently modified their holdings of BUFF. Advisor Group Inc. boosted its stake in shares of Blue Buffalo Pet Products by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock valued at $103,000 after buying an additional 277 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Blue Buffalo Pet Products during the 2nd quarter valued at $138,000. The Manufacturers Life Insurance Company boosted its stake in shares of Blue Buffalo Pet Products by 9.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock valued at $138,000 after buying an additional 533 shares during the period. First Mercantile Trust Co. boosted its stake in shares of Blue Buffalo Pet Products by 29.0% during the 2nd quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock valued at $172,000 after buying an additional 1,693 shares during the period. Finally, Turner Investments LLC acquired a new stake in shares of Blue Buffalo Pet Products during the 3rd quarter valued at $184,000. 88.90% of the stock is owned by institutional investors.
About Blue Buffalo Pet Products
Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company operates as a pet food company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under product lines, including BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines.
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