Zacks: Analysts Expect Simply Good Foods Co (SMPL) Will Post Quarterly Sales of $123.20 Million

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Analysts expect that Simply Good Foods Co (NASDAQ:SMPL) will report sales of $123.20 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Simply Good Foods’ earnings. The lowest sales estimate is $119.19 million and the highest is $125.70 million. Simply Good Foods posted sales of $109.35 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 4th.

On average, analysts expect that Simply Good Foods will report full year sales of $480.19 million for the current financial year, with estimates ranging from $473.06 million to $485.90 million. For the next year, analysts forecast that the company will post sales of $497.74 million, with estimates ranging from $480.52 million to $515.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Simply Good Foods.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, January 3rd. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $121.00 million during the quarter, compared to the consensus estimate of $122.38 million. Simply Good Foods had a net margin of 16.94% and a return on equity of 6.99%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year.

SMPL has been the subject of several recent research reports. Stifel Nicolaus raised their price objective on Simply Good Foods from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 4th. CL King initiated coverage on Simply Good Foods in a research report on Monday, November 19th. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered Simply Good Foods from a “hold” rating to a “sell” rating in a research report on Saturday, January 5th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.20.

Several institutional investors and hedge funds have recently bought and sold shares of SMPL. Bank of America Corp DE raised its position in shares of Simply Good Foods by 24.4% in the 2nd quarter. Bank of America Corp DE now owns 16,619 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 3,260 shares during the last quarter. California Public Employees Retirement System bought a new stake in Simply Good Foods in the 2nd quarter worth about $307,000. Northern Trust Corp increased its holdings in Simply Good Foods by 410.4% in the 2nd quarter. Northern Trust Corp now owns 649,776 shares of the financial services provider’s stock worth $9,382,000 after buying an additional 522,472 shares in the last quarter. Bank of Montreal Can increased its holdings in Simply Good Foods by 102.7% in the 3rd quarter. Bank of Montreal Can now owns 17,491 shares of the financial services provider’s stock worth $340,000 after buying an additional 8,861 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Simply Good Foods by 196.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,878,164 shares of the financial services provider’s stock worth $36,530,000 after buying an additional 1,244,264 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Simply Good Foods stock traded down $0.32 on Tuesday, hitting $20.06. 7,290 shares of the stock traded hands, compared to its average volume of 309,775. The company has a current ratio of 9.17, a quick ratio of 8.00 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.66 billion, a P/E ratio of 34.60 and a beta of 0.70. Simply Good Foods has a 1 year low of $12.14 and a 1 year high of $21.36.

About Simply Good Foods

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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