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Conagra Brands (NYSE:CAG) Updates Q1 Earnings Guidance

Posted on Tuesday, June 30th, 2020 by MarketBeat

Conagra Brands (NYSE:CAG) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.54.0.59 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.54. Conagra Brands also updated its FY 2022 Pre-Market guidance to 2.66-2.76 EPS.

Shares of Conagra Brands stock opened at $33.70 on Tuesday. Conagra Brands has a 1 year low of $22.83 and a 1 year high of $35.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.34. The firm has a fifty day moving average price of $33.56 and a 200 day moving average price of $31.78. The stock has a market cap of $16.41 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). Conagra Brands had a net margin of 7.37% and a return on equity of 12.08%. The firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.59 billion. During the same period in the previous year, the firm posted $0.51 EPS. The firm's quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands will post 2.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th were issued a $0.2125 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.85 dividend on an annualized basis and a yield of 2.52%. Conagra Brands's payout ratio is 42.29%.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Conagra Brands from a hold rating to a buy rating and set a $35.00 price objective for the company in a report on Wednesday, April 15th. Cfra reaffirmed a strong-buy rating and issued a $35.00 price objective (up previously from $33.00) on shares of Conagra Brands in a report on Tuesday, March 31st. SunTrust Banks cut shares of Conagra Brands from a buy rating to a hold rating and set a $35.00 price objective for the company. in a report on Monday, May 11th. Standpoint Research lowered shares of Conagra Brands from a buy rating to a hold rating in a research report on Monday, May 18th. Finally, Morgan Stanley lifted their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the company an equal weight rating in a research report on Monday, June 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. The company has a consensus rating of Hold and an average price target of $34.38.

In other Conagra Brands news, insider Thomas M. Mcgough sold 80,615 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $35.00, for a total value of $2,821,525.00. Following the transaction, the insider now directly owns 226,484 shares in the company, valued at approximately $7,926,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jana Partners Llc sold 274,341 shares of the business's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.60, for a total transaction of $9,492,198.60. The disclosure for this sale can be found here. Insiders sold a total of 367,911 shares of company stock worth $12,745,447 over the last quarter. 0.84% of the stock is currently owned by company insiders.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a 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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