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


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Conagra Brands (NYSE:CAG) posted its earnings results on Thursday. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01, Briefing.com reports. Conagra Brands had a net margin of 9.67% and a return on equity of 16.50%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. Conagra Brands’s quarterly revenue was up 8.5% compared to the same quarter last year.

CAG opened at $37.24 on Thursday. The company has a fifty day moving average price of $36.31 and a two-hundred day moving average price of $35.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.35 and a current ratio of 0.83. Conagra Brands has a 52 week low of $30.12 and a 52 week high of $39.34. The firm has a market capitalization of $18.19 billion, a PE ratio of 16.41, a P/E/G ratio of 1.86 and a beta of 0.86.

A number of research firms have recently issued reports on CAG. Credit Suisse Group lifted their target price on shares of Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Monday, March 29th. Jefferies Financial Group started coverage on shares of Conagra Brands in a report on Friday, January 8th. They issued a “buy” rating and a $41.00 price target for the company. Finally, Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 price target for the company in a report on Monday, January 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Conagra Brands has an average rating of “Hold” and an average price target of $36.71.

In other news, COO Thomas M. Mcgough sold 24,340 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $37.50, for a total value of $912,750.00. Following the completion of the transaction, the chief operating officer now owns 80,681 shares of the company’s stock, valued at approximately $3,025,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas M. Mcgough sold 45,660 shares of the business’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $37.55, for a total transaction of $1,714,533.00. Following the completion of the transaction, the chief operating officer now directly owns 102,001 shares of the company’s stock, valued at approximately $3,830,137.55. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

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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Earnings History for Conagra Brands (NYSE:CAG)

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