Conagra Brands (NYSE:CAG) Announces Earnings Results

Conagra Brands (NYSE:CAG) issued its quarterly earnings data on Wednesday. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.07, Fidelity Earnings reports. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.98 billion. Conagra Brands had a return on equity of 15.77% and a net margin of 8.77%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share.

Shares of NYSE CAG traded up $0.02 during trading on Friday, hitting $33.80. The company had a trading volume of 234,614 shares, compared to its average volume of 2,535,597. The company has a market cap of $16.51 billion, a P/E ratio of 16.59, a PEG ratio of 2.01 and a beta of 0.86. Conagra Brands has a 52 week low of $22.83 and a 52 week high of $39.34. The business’s 50-day moving average is $35.89 and its 200 day moving average is $36.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.44 and a current ratio of 0.95.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 3rd. Shareholders of record on Friday, January 29th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, January 28th. This represents a $1.10 annualized dividend and a dividend yield of 3.25%. Conagra Brands’s dividend payout ratio is currently 48.25%.

CAG has been the subject of several analyst reports. ValuEngine downgraded Conagra Brands from a “sell” rating to a “strong sell” rating in a research report on Monday, November 2nd. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, December 8th. Morgan Stanley boosted their price objective on Conagra Brands from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, October 2nd. Jefferies Financial Group began coverage on Conagra Brands in a research report on Friday. They set a “buy” rating and a $41.00 price objective for the company. Finally, Credit Suisse Group downgraded Conagra Brands from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $38.00 to $34.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Conagra Brands currently has an average rating of “Hold” and an average price target of $35.83.

Conagra Brands Company Profile

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.

Further Reading: Are we seeing the beginning of a new bubble?

Earnings History for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands 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