Conagra Brands (NYSE:CAG) posted its quarterly earnings results on Wednesday. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.07, Fidelity Earnings reports. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.98 billion. Conagra Brands had a net margin of 8.77% and a return on equity of 15.77%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share.
CAG traded up $0.24 on Friday, reaching $34.02. 323,127 shares of the company traded hands, compared to its average volume of 2,535,597. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.95 and a quick ratio of 0.44. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.01 and a beta of 0.86. The stock’s 50 day moving average price is $35.89 and its 200-day moving average price is $36.29. Conagra Brands has a 52-week low of $22.83 and a 52-week high of $39.34.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 3rd. Investors of record on Friday, January 29th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, January 28th. Conagra Brands’s payout ratio is presently 48.25%.
CAG has been the subject of a number of research reports. Credit Suisse Group cut shares of Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $38.00 to $34.00 in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Conagra Brands in a report on Friday. They set a “buy” rating and a $41.00 price target for the company. ValuEngine lowered shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a research report on Monday, November 2nd. Morgan Stanley upped their target price on shares of Conagra Brands from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, October 2nd. Finally, Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Tuesday, December 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.83.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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