Analysts predict that Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) will report earnings of $0.75 per share for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Industrias Bachoco’s earnings. Industrias Bachoco posted earnings per share of $1.37 during the same quarter last year, which indicates a negative year-over-year growth rate of 45.3%. The company is expected to issue its next quarterly earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that Industrias Bachoco will report full year earnings of $3.46 per share for the current year. For the next financial year, analysts forecast that the firm will post earnings of $3.91 per share. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Industrias Bachoco.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Industrias Bachoco from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, October 10th. TheStreet lowered Industrias Bachoco from a “b-” rating to a “c” rating in a research note on Wednesday, October 24th.
IBA stock opened at $45.83 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.57 and a current ratio of 3.32. Industrias Bachoco has a twelve month low of $37.66 and a twelve month high of $64.38. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 13.13 and a beta of 0.66.
Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Industrias Bachoco by 4.2% during the third quarter. Renaissance Technologies LLC now owns 586,104 shares of the company’s stock valued at $31,779,000 after buying an additional 23,704 shares during the period. Baird Financial Group Inc. purchased a new position in shares of Industrias Bachoco during the third quarter valued at $305,000. Virtu Financial LLC purchased a new position in shares of Industrias Bachoco during the third quarter valued at $662,000. Panagora Asset Management Inc. increased its stake in shares of Industrias Bachoco by 5.2% during the third quarter. Panagora Asset Management Inc. now owns 46,513 shares of the company’s stock valued at $2,508,000 after buying an additional 2,292 shares during the period. Finally, Sarasin & Partners LLP increased its stake in shares of Industrias Bachoco by 13.6% during the third quarter. Sarasin & Partners LLP now owns 125,000 shares of the company’s stock valued at $6,778,000 after buying an additional 15,000 shares during the period. Hedge funds and other institutional investors own 3.62% of the company’s stock.
Industrias Bachoco Company Profile
Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. It primarily engages in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products. The company also produces and distributes chicken, turkey, and beef value-added products, as well as medicines and vaccines for animal consumption; provides administrative and operating services; and elaborates and commercializes balanced animal feed and pet treats.
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