Conagra Brands Inc (CAG) Scheduled to Post Quarterly Earnings on Thursday
Conagra Brands Inc (NYSE:CAG) is set to announce its earnings results on Thursday, March 23rd. Analysts expect the company to announce earnings of $0.44 per share for the quarter.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.04. The business earned $2.09 billion during the quarter. Conagra Brands had a return on equity of 25.62% and a net margin of 6.00%. The firm’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. On average, analysts expect Conagra Brands to post $1.70 EPS for the current fiscal year and $1.88 EPS for the next fiscal year.
Conagra Brands Inc (NYSE:CAG) opened at 40.82 on Tuesday. Conagra Brands Inc has a 12-month low of $33.61 and a 12-month high of $48.86. The company has a market capitalization of $17.77 billion, a P/E ratio of 28.79 and a beta of 0.30. The company’s 50 day moving average price is $40.28 and its 200-day moving average price is $37.84.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Monday, January 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, January 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.96%. Conagra Brands’s dividend payout ratio (DPR) is presently 55.94%.
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In other news, Director Joie A. Gregor sold 3,300 shares of the business’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $39.01, for a total value of $128,733.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by insiders.
A number of research firms have commented on CAG. Sanford C. Bernstein lowered Conagra Brands from a “market perform” rating to an “underperform” rating in a research report on Tuesday. Vetr lowered Conagra Brands from a “strong-buy” rating to a “hold” rating and set a $40.38 price target on the stock. in a research report on Monday, January 23rd. Zacks Investment Research upgraded Conagra Brands from a “strong sell” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Conagra Brands in a research report on Friday, December 23rd. Finally, Credit Suisse Group AG upped their price target on Conagra Brands from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, December 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Buy” and a consensus target price of $46.67.
About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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