Conagra Brands (NYSE:CAG) Updates FY22 Earnings Guidance


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Conagra Brands (NYSE:CAG) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $2.63-2.73 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.60. Conagra Brands also updated its FY 2022
Pre-Market guidance to 2.63-2.73 EPS.

Several research analysts recently weighed in on the stock. Credit Suisse Group lifted their price objective on shares of Conagra Brands from $33.00 to $34.00 and gave the stock an underperform rating in a research note on Monday, March 29th. Zacks Investment Research raised shares of Conagra Brands from a sell rating to a hold rating and set a $36.00 price target on the stock in a research note on Monday, January 11th. Finally, Jefferies Financial Group assumed coverage on shares of Conagra Brands in a report on Friday, January 8th. They set a buy rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Conagra Brands currently has an average rating of Hold and a consensus price target of $36.71.

CAG stock opened at $37.24 on Thursday. The stock has a 50-day moving average price of $36.31 and a two-hundred day moving average price of $35.81. The stock has a market cap of $18.19 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The company has a current ratio of 0.83, a quick ratio of 0.35 and a debt-to-equity ratio of 0.98. Conagra Brands has a 1 year low of $30.12 and a 1 year high of $39.34.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, January 6th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. Conagra Brands had a net margin of 9.67% and a return on equity of 16.50%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the business posted $0.63 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Conagra Brands will post 2.6 earnings per share for the current fiscal year.

In related news, Director Richard H. Lenny acquired 10,000 shares of the business’s stock in a transaction on Friday, January 8th. The stock was purchased at an average cost of $33.70 per share, for a total transaction of $337,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas M. Mcgough sold 24,340 shares of the firm’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $37.50, for a total transaction of $912,750.00. Following the sale, the chief operating officer now owns 80,681 shares of the company’s stock, valued at $3,025,537.50. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

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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