Conagra Brands (NYSE:CAG) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Conagra Brands (NYSE:CAG) issued its quarterly earnings data on Wednesday. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01, MarketWatch Earnings reports. Conagra Brands had a net margin of 11.61% and a return on equity of 15.33%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The company’s revenue was down 1.0% compared to the same quarter last year.

CAG opened at $34.22 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.29. Conagra Brands has a 12 month low of $32.25 and a 12 month high of $39.09. The stock has a market capitalization of $16.44 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.91 and a beta of 0.88. The business has a 50 day simple moving average of $33.43 and a 200-day simple moving average of $35.72.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 1st will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, October 29th. Conagra Brands’s dividend payout ratio (DPR) is 47.35%.

Several equities analysts have issued reports on CAG shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Conagra Brands in a report on Monday, September 13th. JPMorgan Chase & Co. downgraded Conagra Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $41.00 to $38.00 in a research note on Friday. Credit Suisse Group upgraded Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 price objective for the company in a research note on Wednesday, September 29th. Citigroup reduced their price target on shares of Conagra Brands from $42.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Conagra Brands from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, July 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.00.

In other news, Director Richard H. Lenny purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 15th. The shares were acquired at an average price of $34.14 per share, with a total value of $341,400.00. Following the purchase, the director now directly owns 128,261 shares of the company’s stock, valued at $4,378,830.54. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Colleen Batcheler sold 33,803 shares of Conagra Brands stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $34.20, for a total value of $1,156,062.60. Following the transaction, the executive vice president now directly owns 159,944 shares of the company’s stock, valued at $5,470,084.80. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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Earnings History for Conagra Brands (NYSE:CAG)

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