Conagra Brands (NYSE:CAG) Releases FY 2022 Pre-Market Earnings Guidance

Conagra Brands (NYSE:CAG) updated its FY 2022
Pre-Market earnings guidance on Tuesday. The company provided EPS guidance of 2.66-2.76 for the period. Conagra Brands also updated its Q1 2021
Pre-Market guidance to 0.54-0.59 EPS.

Shares of CAG opened at $33.70 on Tuesday. The firm has a market capitalization of $15.90 billion, a PE ratio of 21.47, a P/E/G ratio of 2.02 and a beta of 0.82. The company has a quick ratio of 0.34, a current ratio of 0.87 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $33.56 and a 200 day moving average price of $31.78. Conagra Brands has a 52-week low of $22.83 and a 52-week high of $35.59.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter last year, the business earned $0.51 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. On average, equities analysts expect that Conagra Brands will post 2.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th were paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Wednesday, April 29th. Conagra Brands’s dividend payout ratio is presently 42.29%.

CAG has been the subject of a number of research reports. Credit Suisse Group raised their target price on shares of Conagra Brands from $35.00 to $36.00 and gave the stock a neutral rating in a report on Friday, May 15th. Royal Bank of Canada restated a hold rating and issued a $34.00 target price on shares of Conagra Brands in a report on Wednesday, April 1st. Sanford C. Bernstein upgraded Conagra Brands from an underperform rating to a market perform rating and increased their price target for the company from $26.00 to $30.00 in a research report on Wednesday, March 18th. Cfra reaffirmed a strong-buy rating and set a $35.00 price objective (up from $33.00) on shares of Conagra Brands in a research note on Tuesday, March 31st. Finally, Zacks Investment Research upgraded shares of Conagra Brands from a hold rating to a buy rating and set a $35.00 price target for the company in a research report on Wednesday, April 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $34.38.

In related news, insider Thomas M. Mcgough sold 80,615 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $35.00, for a total value of $2,821,525.00. Following the completion of the sale, the insider now owns 226,484 shares of the company’s stock, valued at approximately $7,926,940. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas K. Brown sold 7,336 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $32.44, for a total value of $237,979.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,911 shares of company stock worth $12,745,447. 0.84% of the stock is currently owned by corporate insiders.

About Conagra Brands

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 and Estimates for Conagra Brands (NYSE:CAG)

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