Conagra Brands (NYSE:CAG) Announces Quarterly Earnings Results


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Conagra Brands (NYSE:CAG) issued its earnings results on Thursday. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01, Briefing.com reports. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.72 billion. Conagra Brands had a net margin of 9.67% and a return on equity of 16.50%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS.

CAG opened at $37.24 on Thursday. Conagra Brands has a 1-year low of $30.12 and a 1-year high of $39.34. The stock has a market capitalization of $18.19 billion, a PE ratio of 16.41, a PEG ratio of 1.86 and a beta of 0.86. The company has a current ratio of 0.83, a quick ratio of 0.35 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $36.31 and a two-hundred day moving average price of $35.81.

In other news, Director Richard H. Lenny bought 10,000 shares of the stock in a transaction dated Friday, January 8th. The stock was bought at an average cost of $33.70 per share, with a total value of $337,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Thomas M. Mcgough sold 45,660 shares of the business’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $37.55, for a total value of $1,714,533.00. Following the sale, the chief operating officer now owns 102,001 shares of the company’s stock, valued at approximately $3,830,137.55. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 price target on the stock in a research report on Monday, January 11th. Credit Suisse Group lifted their target price on shares of Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Monday, March 29th. Finally, Jefferies Financial Group assumed coverage on Conagra Brands in a research report on Friday, January 8th. They set a “buy” rating and a $41.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $36.71.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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 for Conagra Brands (NYSE:CAG)

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