Conagra Brands (NYSE:CAG) Updates Q4 2021 Earnings Guidance


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Conagra Brands (NYSE:CAG) issued an update on its fourth quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.490-0.550 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.510. The company issued revenue guidance of -.Conagra Brands also updated its FY 2022 guidance to 2.630-2.730 EPS.

CAG has been the topic of several analyst reports. Zacks Investment Research upgraded Conagra Brands from a sell rating to a hold rating and set a $36.00 price target on the stock in a report on Monday, January 11th. Citigroup began coverage on shares of Conagra Brands in a report on Tuesday, April 20th. They issued a neutral rating and a $42.00 target price on the stock. Jefferies Financial Group started coverage on shares of Conagra Brands in a report on Friday, January 8th. They set a buy rating and a $41.00 price target for the company. Credit Suisse Group upped their price objective on Conagra Brands from $33.00 to $34.00 and gave the company an underperform rating in a report on Monday, March 29th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on Conagra Brands in a research note on Tuesday, April 27th. They set a neutral rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Conagra Brands currently has a consensus rating of Hold and an average price target of $37.90.

NYSE:CAG traded up $0.09 during trading hours on Tuesday, reaching $37.59. 3,206,037 shares of the stock were exchanged, compared to its average volume of 3,850,854. Conagra Brands has a twelve month low of $31.66 and a twelve month high of $39.34. The business has a 50-day moving average of $37.51 and a two-hundred day moving average of $35.94. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.86 and a beta of 0.86. The company has a quick ratio of 0.35, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, April 7th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Conagra Brands will post 2.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 2nd. Stockholders of record on Friday, April 30th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, April 29th. This represents a $1.10 annualized dividend and a dividend yield of 2.93%. Conagra Brands’s dividend payout ratio is presently 48.25%.

In other news, COO Thomas M. Mcgough sold 45,660 shares of the stock in a transaction on Friday, March 19th. The stock was sold at an average price of $37.55, for a total value of $1,714,533.00. Following the sale, the chief operating officer now directly owns 102,001 shares in the company, valued at $3,830,137.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas M. Mcgough sold 24,340 shares of Conagra Brands 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 $3,025,537.50. The disclosure for this sale can be found here. In the last three months, insiders sold 120,000 shares of company stock valued at $4,502,783. Insiders own 2.60% of the company’s stock.

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 and Estimates for Conagra Brands (NYSE:CAG)

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