ConAgra Foods Inc. (CAG) Releases FY14 Earnings Guidance
ConAgra Foods Inc. (NYSE:CAG) updated its FY14 earnings guidance on Tuesday. The company provided EPS guidance of $2.22-2.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.34, Analyst Ratings Network.com reports. ConAgra Foods also updated its Q3 guidance to $0.60 EPS.
A number of analysts have recently weighed in on CAG shares. 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 issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. ConAgra Foods presently has a consensus rating of Hold and an average price target of $36.50.
ConAgra Foods Inc. (NYSE:CAG) opened at 31.05 on Tuesday. ConAgra Foods Inc. has a 1-year low of $29.87 and a 1-year high of $37.28. The stock has a 50-day moving average of $32.86 and a 200-day moving average of $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 some unusual options trading activity on Monday. Stock traders acquired 13,665 put options on the company. This represents an increase of 1,455% compared to the typical volume of 879 put options.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. On average, analysts predict that ConAgra Foods Inc. will post $2.34 earnings per share for the current fiscal year.
ConAgra Foods, Inc (NYSE:CAG) is a food company.
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