J & J Snack Foods Corp. (JJSF) continues to see bullish Zacks Consensus Estimates on strong fundamentals. Analysts are calling for 2009 earnings of $2.13 per share and 2010 earnings of $2.34, which translates into 10% growth.

Company Description

J & J Snack Foods Corp. manufactures, markets and distributes a variety of nutritional, popularly priced, branded niche snack foods and beverages for the food service and retail supermarket industries.

Products include frozen soft pretzels under SUPERPRETZEL®, Pretzel Fillers® and other brand names; ICEE® frozen beverages; LUIGI’S® Real Italian Ice, Whole Fruit®; frozen juice bars under the Minute Maid®, Barq’s®, SHAPE UPS® and CHILL® brand names; TIO PEPE’S® churros; The Funnel Cake Factory® funnel cakes; and cookies under the Mrs. GoodCookie® and CAMDEN CREEK® brands.

Bullish Forecasts and Solid Momentum

For the year ending September 2009, analysts polled by Zacks are forecasting earnings of $2.13 per share, and increase from $1.92 over the past 3 months.

For the following year, the Zacks Consensus Estimate of $2.34 per share was boosted from $2.14 over the same time period.

JJSF has been outperforming the market since reporting in late July and over the past year.

Favorable Industry Comparisons

The company’s balance sheet shows no debt. Its return on equity (ROE) of 12% matches the industry average. J & J Snack Foods’ net profit margin of 6% tops the industry average of 3%.

Rewarding Shareholders

The company recently declared a quarterly dividend of $.0975 per share, noting that it is payable on October 6 to shareholders of record as of the close of business on September 15.

The dividend translates into an industry-leading yield of 1%.

A Record Quarter

In late July, J & J Snack Foods reported record sales and earnings for the fiscal third quarter. Sales totaled $179.8 million, a 2% increase from last year. Earnings per share of 80 cents topped the previous year’s 58 cents and exceeded the Zacks Consensus Estimate by 23%.

Management stated that the company saw strong performances from the food service and retail grocery groups during the quarter, adding that while JJSF continues to be challenged with issues facing the overall economy, the company is confident of its abilities to overcome these issues.

Zacks Investment Research
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