ConAgra Foods Inc (CAG) Releases Q4 Earnings Guidance
ConAgra Foods Inc (NYSE:CAG) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.55 for the period, compared to the Thomson Reuters consensus estimate of $0.62, AnalystRatingsNetwork.com reports.
ConAgra Foods Inc (NYSE:CAG) opened at 32.85 on Wednesday. ConAgra Foods Inc has a one year low of $28.09 and a one year high of $37.28. The stock has a 50-day moving average of $31.57 and a 200-day moving average of $31.36. The company has a market cap of $13.835 billion and a P/E ratio of 17.12.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.02. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts expect that ConAgra Foods Inc will post $2.23 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a hold rating on shares of ConAgra Foods in a research note on Monday, June 2nd. They now have a $32.00 price target on the stock, up previously from $31.00. On a related note, analysts at Ned Davis Research upgraded shares of ConAgra Foods from a neutral rating to a buy rating in a research note on Monday, May 12th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of ConAgra Foods from $30.00 to $32.00 in a research note on Monday, April 28th. They now have a neutral rating on the stock. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $33.50.
In other ConAgra Foods news, CEO Gary M. Rodkin unloaded 50,000 shares of ConAgra Foods stock on the open market in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $32.44, for a total value of $1,622,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ConAgra Foods, Inc is a packaged food company. The Company operates in four segments: Consumer Foods, Commercial Foods, Ralcorp Food Group, and Ralcorp Frozen Bakery Products.
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