Annie’s (BNNY) Stock Pummeled on Earnings, Guidance

Shares of Annieâ s Inc. (BNNY) were off -5.63 or -16.14 percent to $29.25 per share in pre-market trading on Friday, after the company announced earnings yesterday after the close. While earnings per share were better than expected, the companyâ s full year guidance disappointed analysts. Annieâ s stock closed at $34.88, up +0.24 or +0.69 percent in Thursdayâ s regular trading session.

Berkeley, California based Annieâ s Inc. was originally founded as Annieâ s Homegrown in Hampton, Connecticut in 1989. The company originally provided natural macaroni and cheese to health food stores on the East Coast, but has since expanded into other organic meals, snacks and frozen foods. The company had its initial public offering on March 27th of 2012, selling 5 million shares at $19 each, the stock surged +89 percent and closed at $35.2 per share that day. Annieâ s reported it had earned $0.29 per share in the companyâ s fiscal first quarter, versus $0.27 in the same period one year ago. Analysts were expecting EPS of $0.34 per share. Revenue came in at $60.1 million, up +15.4 percent over last year. Nevertheless, the analyst consensus was for revenue of $61.17 million. Guidance for the companyâ s fiscal 2015 full year is for earnings per share of $0.88 to $0.95, while adjusted EBITDA is expected to be in the range of $29.5 to $31.5 million. The analyst consensus was for $1.13 per share for 2015â s full year results. Annieâ s Chief Executive Officer, John Foraker stated in a conference call to analysts that, â

Published on May 30, 2014
By Jay Hawk
Jay Hawk
Jay Hawk enjoyed a 12-year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Since retiring as a full-time financial market professional, he has been actively trading stock, commodities, forex and options for his own account and managing funds for others, as well as writing financial market commentary and educational articles.

Copyrighted 2016. Content published with author's permission.

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