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

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

Shares of Conagra Brands stock traded down $0.12 on Friday, hitting $34.10. 81,206 shares of the company were exchanged, compared to its average volume of 3,591,173. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.91 and a beta of 0.88. The company has a 50-day moving average price of $33.43 and a 200 day moving average price of $35.72. Conagra Brands has a 1-year low of $32.25 and a 1-year high of $39.09. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 1st will be issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, October 29th. Conagra Brands’s dividend payout ratio is currently 47.35%.

In other Conagra Brands news, Director Richard H. Lenny acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The shares were purchased at an average cost of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the acquisition, the director now owns 128,261 shares of the company’s stock, valued at approximately $4,378,830.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Colleen Batcheler sold 6,210 shares of the company’s stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $34.96, for a total value of $217,101.60. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

CAG has been the subject of several recent analyst reports. UBS Group lowered Conagra Brands from a “buy” rating to a “sell” rating in a research note on Friday. Morgan Stanley cut their price objective on Conagra Brands from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 14th. Bank of America lowered Conagra Brands from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $44.00 to $36.00 in a research note on Wednesday, July 14th. Stifel Nicolaus lowered Conagra Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $35.00 in a research note on Wednesday, July 14th. Finally, Citigroup cut their price objective on Conagra Brands from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.00.

About Conagra Brands

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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