Conagra Brands (NYSE:CAG) released its earnings results on Wednesday. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07, Fidelity Earnings reports. Conagra Brands had a return on equity of 15.77% and a net margin of 8.77%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year.
CAG traded up $0.29 on Friday, hitting $34.07. The company had a trading volume of 6,454,761 shares, compared to its average volume of 5,771,812. The stock has a fifty day moving average price of $35.89 and a 200-day moving average price of $36.29. Conagra Brands has a 12-month low of $22.83 and a 12-month high of $39.34. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.44 and a current ratio of 0.95. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 2.01 and a beta of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 3rd. Shareholders of record on Friday, January 29th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, January 28th. This represents a $1.10 annualized dividend and a yield of 3.23%. Conagra Brands’s dividend payout ratio (DPR) is presently 48.25%.
Several research firms have recently weighed in on CAG. Credit Suisse Group downgraded Conagra Brands from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $38.00 to $34.00 in a research report on Tuesday. Jefferies Financial Group initiated coverage on Conagra Brands in a research report on Friday. They set a “buy” rating and a $41.00 target price for the company. ValuEngine downgraded Conagra Brands from a “sell” rating to a “strong sell” rating in a report on Monday, November 2nd. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Tuesday, December 8th. Finally, Morgan Stanley lifted their price objective on Conagra Brands from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, October 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target 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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