Conagra Brands (NYSE:CAG) Issues FY 2022 Earnings Guidance

Conagra Brands (NYSE:CAG) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $2.500-$2.500 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.460. The company issued revenue guidance of -.

Shares of Conagra Brands stock opened at $33.16 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.29. Conagra Brands has a 1 year low of $32.25 and a 1 year high of $39.09. The company has a market capitalization of $15.91 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.91 and a beta of 0.88. The business has a 50 day moving average price of $33.46 and a 200 day moving average price of $35.58.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Conagra Brands had a return on equity of 15.33% and a net margin of 11.61%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the firm posted $0.70 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Conagra Brands will post 2.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Monday, November 1st will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, October 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 47.35%.

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a buy rating on shares of Conagra Brands in a research note on Monday, September 13th. Credit Suisse Group raised Conagra Brands from an underperform rating to a neutral rating and set a $34.00 price objective on the stock in a research note on Wednesday, September 29th. Royal Bank of Canada reaffirmed a hold rating and issued a $38.00 price objective on shares of Conagra Brands in a research note on Friday, October 8th. Morgan Stanley reduced their price objective on Conagra Brands from $38.00 to $35.00 and set an equal weight rating on the stock in a research note on Wednesday, July 14th. Finally, Bank of America lowered Conagra Brands from a buy rating to a neutral rating and reduced their price objective for the company from $44.00 to $36.00 in a research note on Wednesday, July 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $37.00.

In other Conagra Brands news, EVP Colleen Batcheler sold 33,803 shares of Conagra Brands stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $34.20, for a total transaction of $1,156,062.60. Following the sale, the executive vice president now directly owns 159,944 shares in the company, valued at approximately $5,470,084.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by insiders.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold 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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