The Simply Good Foods (NASDAQ:SMPL) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

The Simply Good Foods (NASDAQ:SMPL) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08, MarketWatch Earnings reports. The Simply Good Foods had a net margin of 3.87% and a return on equity of 6.03%. The firm had revenue of $231.20 million for the quarter, compared to analysts’ expectations of $209.65 million. During the same period last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 51.9% on a year-over-year basis.

Shares of The Simply Good Foods stock traded down $0.01 on Thursday, reaching $30.05. 27,061 shares of the stock were exchanged, compared to its average volume of 1,314,143. The firm’s 50 day moving average is $25.80 and its 200-day moving average is $23.14. The firm has a market cap of $2.88 billion, a PE ratio of 101.60 and a beta of 0.78. The Simply Good Foods has a one year low of $14.08 and a one year high of $32.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 3.20.

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of The Simply Good Foods from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, December 2nd. Jefferies Financial Group assumed coverage on shares of The Simply Good Foods in a research note on Thursday. They set a “buy” rating and a $36.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of The Simply Good Foods from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group boosted their price objective on shares of The Simply Good Foods from $29.00 to $34.00 and gave the stock a “conviction-buy” rating in a research note on Thursday, December 24th. Finally, Stifel Nicolaus lowered shares of The Simply Good Foods from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $26.00 to $30.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.00.

In related news, Director Robert G. Montgomery acquired 2,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average cost of $18.98 per share, for a total transaction of $37,960.00. Following the transaction, the director now directly owns 54,766 shares in the company, valued at $1,039,458.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

About The Simply Good Foods

The Simply Good Foods Company operates as a consumer packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers primarily nutrition bars, ready-to-drink (RTD) shakes, sweet and salty snacks, protein bars, cookies, pizza, protein chips, recipes, and confectionery products, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names.

Read More: Why is insider trading harmful?

Earnings History for The Simply Good Foods (NASDAQ:SMPL)

Receive News & Ratings for The Simply Good Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Simply Good Foods and related companies with MarketBeat.com's FREE daily email newsletter.

Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit