Conagra Brands (NYSE:CAG) Updates Q4 Earnings Guidance


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Conagra Brands (NYSE:CAG) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.49-0.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.51. Conagra Brands also updated its FY 2022
Pre-Market guidance to 2.63-2.73 EPS.

A number of research firms have recently weighed in on CAG. Jefferies Financial Group began coverage on Conagra Brands in a research note on Friday, January 8th. They issued a buy rating and a $41.00 price objective for the company. Credit Suisse Group upped their price objective on Conagra Brands from $33.00 to $34.00 and gave the stock an underperform rating in a research note on Monday, March 29th. Finally, Zacks Investment Research raised Conagra Brands from a sell rating to a hold rating and set a $36.00 price objective for the company in a research note on Monday, January 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Conagra Brands presently has an average rating of Hold and a consensus price target of $36.71.

NYSE:CAG opened at $37.24 on Thursday. 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 company has a market capitalization of $18.19 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.86 and a beta of 0.86. Conagra Brands has a 12 month low of $30.12 and a 12 month high of $39.34. The business’s 50-day moving average is $36.31 and its 200 day moving average is $35.81.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, January 6th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.98 billion. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. On average, research analysts forecast that Conagra Brands will post 2.6 earnings per share for the current year.

In other Conagra Brands news, COO Thomas M. Mcgough sold 45,660 shares of the company’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $37.55, for a total transaction of $1,714,533.00. Following the sale, the chief operating officer now directly owns 102,001 shares in the company, valued at $3,830,137.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas M. Mcgough sold 24,340 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $37.50, for a total value of $912,750.00. Following the sale, the chief operating officer now owns 80,681 shares in the company, valued at $3,025,537.50. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

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 and Estimates for Conagra Brands (NYSE:CAG)

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