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

Conagra Brands (NYSE:CAG) posted its quarterly earnings results on Wednesday. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01, MarketWatch Earnings reports. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.53 billion. Conagra Brands had a return on equity of 15.33% and a net margin of 11.61%. Conagra Brands’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share.

Shares of NYSE:CAG opened at $34.22 on Friday. The business has a 50 day moving average price of $33.43 and a 200 day moving average price of $35.72. Conagra Brands has a twelve month low of $32.25 and a twelve month high of $39.09. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.91 and a beta of 0.88. The company has a quick ratio of 0.29, a current ratio of 0.82 and a debt-to-equity ratio of 0.96.

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

CAG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on Conagra Brands from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, July 14th. UBS Group lowered Conagra Brands from a “buy” rating to a “sell” rating in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Conagra Brands in a research report on Monday, September 13th. Credit Suisse Group raised Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 target price on the stock in a research report on Wednesday, September 29th. Finally, Citigroup dropped their target price on Conagra Brands from $42.00 to $37.00 and set a “neutral” 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.00.

In other Conagra Brands news, EVP Colleen Batcheler sold 33,803 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 159,944 shares in the company, valued at approximately $5,470,084.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Lenny acquired 10,000 shares of Conagra Brands stock in a transaction on Thursday, July 15th. The stock was purchased at an average price of $34.14 per share, with a total value of $341,400.00. Following the transaction, the director now directly owns 128,261 shares in the company, valued at approximately $4,378,830.54. The disclosure for this purchase can be found here. 2.10% of the stock is owned by corporate insiders.

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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