Conagra Brands (CAG) Releases FY19 Earnings Guidance

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Conagra Brands (NYSE:CAG) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.03-2.08 for the period, compared to the Thomson Reuters consensus estimate of $2.12. The company issued revenue guidance of $9.685-9.764 billion, compared to the consensus revenue estimate of $9.74 billion.Conagra Brands also updated its FY 2019 guidance to $2.03-2.08 EPS.

Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Conagra Brands from a sell rating to a hold rating in a research report on Wednesday, October 3rd. ValuEngine lowered Conagra Brands from a hold rating to a sell rating in a research report on Thursday, September 27th. Credit Suisse Group started coverage on Conagra Brands in a report on Wednesday, October 31st. They issued a neutral rating and a $40.00 price target on the stock. Jefferies Financial Group reiterated a buy rating and issued a $44.00 price target on shares of Conagra Brands in a report on Wednesday. Finally, TheStreet lowered Conagra Brands from a b- rating to a c+ rating in a report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $42.20.

Shares of Conagra Brands stock opened at $29.09 on Thursday. The company has a market capitalization of $11.19 billion, a PE ratio of 13.79, a P/E/G ratio of 1.70 and a beta of 0.14. Conagra Brands has a 52 week low of $28.41 and a 52 week high of $39.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.39.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 20th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.41 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities research analysts predict that Conagra Brands will post 2.1 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, January 30th will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, January 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 40.28%.

In other Conagra Brands news, CFO David S. Marberger purchased 2,836 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The stock was bought at an average cost of $35.25 per share, with a total value of $99,969.00. Following the completion of the transaction, the chief financial officer now owns 12,721 shares of the company’s stock, valued at approximately $448,415.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas K. Brown purchased 7,092 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The shares were acquired at an average cost of $35.25 per share, with a total value of $249,993.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 24,112 shares of company stock valued at $849,948. Company insiders own 0.92% of the company’s stock.

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About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a 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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