Conagra Brands (NYSE:CAG) Issues FY 2022 Pre-Market Earnings Guidance


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Conagra Brands (NYSE:CAG) issued an update on its FY 2022
Pre-Market earnings guidance on Thursday morning. The company provided EPS guidance of 2.63-2.73 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.60. Conagra Brands also updated its Q4 2021
Pre-Market guidance to 0.49-0.55 EPS.

Shares of NYSE CAG opened at $37.24 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.35 and a current ratio of 0.83. The firm has a market capitalization of $18.19 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.86 and a beta of 0.86. The stock has a 50 day moving average price of $36.31 and a 200 day moving average price of $35.81. Conagra Brands has a 52-week low of $30.12 and a 52-week high of $39.34.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, January 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.98 billion. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. Conagra Brands’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. Analysts forecast that Conagra Brands will post 2.6 earnings per share for the current year.

A number of brokerages have recently issued reports on CAG. Credit Suisse Group upped their price target on Conagra Brands from $33.00 to $34.00 and gave the stock an underperform rating in a research report on Monday, March 29th. Zacks Investment Research raised Conagra Brands from a sell rating to a hold rating and set a $36.00 price target on the stock in a research report on Monday, January 11th. Finally, Jefferies Financial Group assumed coverage on Conagra Brands in a research report on Friday, January 8th. They set a buy rating and a $41.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $36.71.

In other news, COO Thomas M. Mcgough sold 45,660 shares of the stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $37.55, for a total transaction of $1,714,533.00. Following the sale, the chief operating officer now directly owns 102,001 shares of the company’s stock, valued at approximately $3,830,137.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard H. Lenny bought 10,000 shares of the stock in a transaction dated Friday, January 8th. The shares were purchased at an average cost of $33.70 per share, for a total transaction of $337,000.00. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

About Conagra Brands

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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