ConAgra Foods Inc. (CAG) Issues Q3 Earnings Guidance
ConAgra Foods Inc. (NYSE:CAG) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.66, Analyst Ratings.Net reports. ConAgra Foods also updated its FY14 guidance to $2.22-2.25 EPS.
ConAgra Foods Inc. (NYSE:CAG) opened at 31.05 on Tuesday. ConAgra Foods Inc. has a 52 week low of $29.87 and a 52 week high of $37.28. The stock’s 50-day moving average is $32.86 and its 200-day moving average is $32.87. The company has a market cap of $13.054 billion and a price-to-earnings ratio of 18.76. ConAgra Foods also was the target of unusually large options trading on Monday. Stock investors bought 13,665 put options on the stock. This is an increase of approximately 1,455% compared to the average daily volume of 879 put options.
ConAgra Foods (NYSE:CAG) last released its earnings data on Thursday, December 19th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.07. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter last year, the company posted $0.57 earnings per share. ConAgra Foods’s revenue was up 26.5% compared to the same quarter last year. On average, analysts predict that ConAgra Foods Inc. will post $2.34 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of ConAgra Foods from an underperform rating to a neutral rating in a research note on Wednesday, January 8th. They now have a $36.00 price target on the stock. On a related note, analysts at Deutsche Bank reiterated a hold rating on shares of ConAgra Foods in a research note on Friday, December 20th. They now have a $35.00 price target on the stock, up previously from $33.00. Finally, analysts at RBC Capital initiated coverage on shares of ConAgra Foods in a research note on Monday, November 25th. They set a sector perform rating and a $33.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $36.50.
ConAgra Foods, Inc (NYSE:CAG) is a food company.
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