Simply Good Foods (NASDAQ:SMPL) Issues Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Simply Good Foods beat quarterly earnings expectations, reporting EPS of $0.44 versus the $0.39 analyst consensus and revenue of $333.31 million versus estimates of $327.21 million.
• Despite the earnings beat, quarterly revenue fell 9.7% year over year, while the company posted a negative net margin of 14.28% and EPS declined from $0.46 in the prior-year quarter.
• Analysts maintain a consensus “Hold” rating with an average price target of $14.27; the stock opened at $10.09 and remains near its 52-week low of $9.38.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05, FiscalAI reports. The company had revenue of $333.31 million during the quarter, compared to analyst estimates of $327.21 million. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%. The firm's quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS.

Simply Good Foods Price Performance

NASDAQ SMPL opened at $10.09 on Tuesday. The firm has a market cap of $892.57 million, a P/E ratio of -4.65 and a beta of 0.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10. The stock's 50-day moving average is $10.45 and its two-hundred day moving average is $13.13. Simply Good Foods has a fifty-two week low of $9.38 and a fifty-two week high of $22.00.

Wall Street Analyst Weigh In

SMPL has been the topic of a number of research analyst reports. Truist Financial set a $11.00 price target on Simply Good Foods in a report on Wednesday, August 26th. UBS Group set a $15.00 price objective on Simply Good Foods in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $14.00 price objective on shares of Simply Good Foods in a research report on Friday, July 10th. TD Cowen lowered their target price on Simply Good Foods from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group set a $15.00 target price on Simply Good Foods in a research report on Wednesday, August 26th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Simply Good Foods has a consensus rating of "Hold" and a consensus target price of $14.27.

About Simply Good Foods

The Simply Good Foods Company NASDAQ: SMPL is a consumer packaged food company focused on convenient, nutrition-focused products. Its portfolio is built around the Atkins and Quest brands, which serve consumers seeking lower-carbohydrate, higher-protein and better-for-you food options.

The company offers a variety of products, including protein bars, snack bars, shakes, cookies, chips, confectionery items, protein powders and frozen foods. Its products are sold through grocery stores, mass merchants, club stores, drugstores, convenience stores, e-commerce platforms and other retail channels.

Simply Good Foods was established in 2017 through the combination of Conyers Park Acquisition Corp.

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