Simply Good Foods Co (SMPL) Expected to Announce Quarterly Sales of $123.20 Million

Equities analysts expect Simply Good Foods Co (NASDAQ:SMPL) to report sales of $123.20 million for the current quarter, Zacks reports. Three analysts have made estimates for Simply Good Foods’ earnings, with the highest sales estimate coming in at $125.70 million and the lowest estimate coming in at $119.19 million. Simply Good Foods posted sales of $109.35 million in the same quarter last year, which suggests a positive year over year growth rate of 12.7%. The company is expected to issue its next earnings report on Tuesday, April 9th.

On average, analysts expect that Simply Good Foods will report full-year sales of $480.19 million for the current year, with estimates ranging from $473.06 million to $485.90 million. For the next financial year, analysts anticipate that the business will post sales of $497.74 million, with estimates ranging from $480.52 million to $515.10 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Simply Good Foods.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, January 3rd. The financial services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Simply Good Foods had a return on equity of 6.99% and a net margin of 16.94%. The firm had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $122.38 million. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year.

Several analysts recently issued reports on SMPL shares. Stifel Nicolaus lifted their target price on Simply Good Foods from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 4th. CL King began coverage on Simply Good Foods in a report on Monday, November 19th. They issued a “buy” rating for the company. Finally, Zacks Investment Research lowered Simply Good Foods from a “hold” rating to a “sell” rating in a research note on Saturday, January 5th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Simply Good Foods currently has a consensus rating of “Buy” and a consensus target price of $20.20.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMPL. Bank of America Corp DE raised its holdings in shares of Simply Good Foods by 24.4% during the second quarter. Bank of America Corp DE now owns 16,619 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 3,260 shares during the last quarter. California Public Employees Retirement System purchased a new position in Simply Good Foods in the second quarter worth approximately $307,000. Northern Trust Corp boosted its position in shares of Simply Good Foods by 410.4% during the second quarter. Northern Trust Corp now owns 649,776 shares of the financial services provider’s stock worth $9,382,000 after buying an additional 522,472 shares during the period. Bank of Montreal Can boosted its position in shares of Simply Good Foods by 102.7% during the third quarter. Bank of Montreal Can now owns 17,491 shares of the financial services provider’s stock worth $340,000 after buying an additional 8,861 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Simply Good Foods by 196.3% in the third quarter. Victory Capital Management Inc. now owns 1,878,164 shares of the financial services provider’s stock valued at $36,530,000 after acquiring an additional 1,244,264 shares in the last quarter. 85.00% of the stock is owned by institutional investors.

SMPL stock traded up $0.40 during trading on Tuesday, reaching $20.34. The stock had a trading volume of 9,641 shares, compared to its average volume of 427,655. Simply Good Foods has a 52 week low of $12.14 and a 52 week high of $21.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 8.00 and a current ratio of 9.17. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 34.95 and a beta of 0.70.

About Simply Good Foods

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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