Bob Evans Farms Inc (NASDAQ:BOBE) to Issue $0.34 Quarterly Dividend

Bob Evans Farms Inc (NASDAQ:BOBE) declared a quarterly dividend on Tuesday, November 28th, RTT News reports. Stockholders of record on Monday, December 11th will be given a dividend of 0.34 per share by the restaurant operator on Friday, December 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Friday, December 8th.

Bob Evans Farms has increased its dividend payment by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Bob Evans Farms has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bob Evans Farms to earn $2.48 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 54.8%.

Bob Evans Farms (BOBE) traded down $0.67 during midday trading on Friday, reaching $78.82. The company had a trading volume of 495,696 shares, compared to its average volume of 257,125. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Bob Evans Farms has a one year low of $47.28 and a one year high of $79.70. The stock has a market cap of $1,570.00, a PE ratio of 61.58 and a beta of 0.54.

Bob Evans Farms (NASDAQ:BOBE) last released its quarterly earnings data on Wednesday, December 6th. The restaurant operator reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. Bob Evans Farms had a return on equity of 18.55% and a net margin of 28.75%. The business had revenue of $117.63 million for the quarter, compared to the consensus estimate of $117.10 million. During the same quarter in the previous year, the company posted $0.56 EPS. sell-side analysts predict that Bob Evans Farms will post 2.21 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on BOBE shares. Zacks Investment Research upgraded Bob Evans Farms from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Monday, September 4th. Oppenheimer reiterated a “hold” rating and issued a $72.00 target price on shares of Bob Evans Farms in a report on Friday, September 8th. BidaskClub cut Bob Evans Farms from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. ValuEngine cut Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, William Blair cut Bob Evans Farms from an “outperform” rating to a “market perform” rating in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $76.05.

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Bob Evans Farms Company Profile

Bob Evans Farms, Inc (Bob Evans) is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen food items under the Bob Evans and Owens or Country Creek brand names. The Company’s food products are distributed to customers throughout the United States.

Dividend History for Bob Evans Farms (NASDAQ:BOBE)

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