Conagra Brands (NYSE:CAG) Posts Earnings Results, Beats Expectations By $0.09 EPS

Conagra Brands (NYSE:CAG) announced its quarterly earnings results on Tuesday. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09, MarketWatch Earnings reports. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.13 billion. Conagra Brands had a net margin of 7.60% and a return on equity of 14.38%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS.

Shares of CAG opened at $35.41 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.88 and a quick ratio of 0.34. Conagra Brands has a 1 year low of $22.83 and a 1 year high of $36.05. The company has a 50 day simple moving average of $33.63 and a two-hundred day simple moving average of $31.88. The firm has a market cap of $17.37 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 2.16 and a beta of 0.85.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th were paid a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, April 29th. Conagra Brands’s payout ratio is 37.28%.

A number of brokerages have recently issued reports on CAG. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating and raised their price target for the company from $26.00 to $30.00 in a report on Wednesday, March 18th. Deutsche Bank increased their price objective on shares of Conagra Brands from $32.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday. Royal Bank of Canada reiterated a “hold” rating and issued a $34.00 price objective on shares of Conagra Brands in a research note on Wednesday, April 1st. ValuEngine cut shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Jefferies Financial Group upgraded shares of Conagra Brands to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.29.

In other Conagra Brands news, Director Jana Partners Llc sold 5,619 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $34.48, for a total transaction of $193,743.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert G. Wise sold 18,417 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $35.48, for a total transaction of $653,435.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 507,290 shares of company stock valued at $17,749,653. Insiders own 0.84% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Earnings History for Conagra Brands (NYSE:CAG)

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