Conagra Brands (NYSE:CAG) Releases FY 2022 Earnings Guidance

Conagra Brands (NYSE:CAG) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.500-$2.500 for the period, compared to the Thomson Reuters consensus estimate of $2.460. The company issued revenue guidance of -.

Shares of CAG stock traded up $0.07 on Thursday, hitting $33.23. The stock had a trading volume of 21,252 shares, compared to its average volume of 3,595,520. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 1.91 and a beta of 0.88. The stock’s 50 day moving average is $33.46 and its 200-day moving average is $35.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.29 and a current ratio of 0.82. Conagra Brands has a 52-week low of $32.25 and a 52-week high of $39.09.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 6th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Conagra Brands had a net margin of 11.61% and a return on equity of 15.33%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. Equities analysts expect that Conagra Brands will post 2.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 1st will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, October 29th. This represents a $1.25 annualized dividend and a dividend yield of 3.76%. Conagra Brands’s dividend payout ratio (DPR) is 47.35%.

CAG has been the subject of several research reports. Credit Suisse Group upgraded shares of Conagra Brands from an underperform rating to a neutral rating and set a $34.00 price objective for the company in a research report on Wednesday, September 29th. Jefferies Financial Group restated a buy rating on shares of Conagra Brands in a research report on Monday, September 13th. Royal Bank of Canada reaffirmed a hold rating and set a $38.00 price objective on shares of Conagra Brands in a research note on Friday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Conagra Brands from $37.00 to $35.00 and set a hold rating for the company in a research note on Wednesday, July 14th. Finally, Bank of America lowered shares of Conagra Brands from a buy rating to a neutral rating and reduced their price objective for the company from $44.00 to $36.00 in a research note on Wednesday, July 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $37.00.

In other Conagra Brands news, EVP Colleen Batcheler sold 33,803 shares of Conagra Brands stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $34.20, for a total transaction of $1,156,062.60. Following the completion of the transaction, the executive vice president now directly owns 159,944 shares of the company’s stock, valued at $5,470,084.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold 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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