Conagra Brands (NYSE:CAG) updated its first quarter 2021
Pre-Market earnings guidance on Tuesday. The company provided EPS guidance of 0.54-0.59 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.54. Conagra Brands also updated its FY 2022
Pre-Market guidance to 2.66-2.76 EPS.
A number of research analysts recently issued reports on CAG shares. SunTrust Banks downgraded Conagra Brands from a buy rating to a hold rating and set a $35.00 price objective for the company. in a report on Monday, May 11th. Zacks Investment Research raised shares of Conagra Brands from a hold rating to a buy rating and set a $35.00 price objective on the stock in a research report on Wednesday, April 15th. Royal Bank of Canada reaffirmed a hold rating and issued a $34.00 target price on shares of Conagra Brands in a research report on Wednesday, April 1st. Jefferies Financial Group raised shares of Conagra Brands from a hold rating to a buy rating and set a $41.00 price target on the stock in a research report on Monday, June 22nd. Finally, Morgan Stanley raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an equal weight rating in a report on Monday, June 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Conagra Brands presently has an average rating of Hold and a consensus price target of $34.38.
Shares of NYSE CAG opened at $33.70 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.34 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $15.90 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.02 and a beta of 0.82. Conagra Brands has a 12 month low of $22.83 and a 12 month high of $35.59. The stock has a 50 day moving average of $33.56 and a 200-day moving average of $31.78.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Conagra Brands had a net margin of 7.37% and a return on equity of 12.08%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the prior year, the business earned $0.51 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts predict that Conagra Brands will post 2.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th were given a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Wednesday, April 29th. Conagra Brands’s payout ratio is presently 42.29%.
In related news, Director Thomas K. Brown sold 7,336 shares of Conagra Brands stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $32.44, for a total transaction of $237,979.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jana Partners Llc sold 274,341 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $34.60, for a total value of $9,492,198.60. The disclosure for this sale can be found here. Insiders have sold a total of 367,911 shares of company stock valued at $12,745,447 in the last ninety days. 0.84% of the stock is currently owned by insiders.
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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