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 2.66-2.76 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.57. Conagra Brands also updated its FY22 guidance to $2.66-2.76 EPS.

CAG opened at $35.87 on Friday. The firm has a market cap of $17.44 billion, a P/E ratio of 15.66, a PEG ratio of 2.13 and a beta of 0.86. Conagra Brands has a 1-year low of $22.83 and a 1-year high of $39.34. The company has a 50 day simple moving average of $36.52 and a two-hundred day simple moving average of $34.23. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.88 and a quick ratio of 0.46.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, October 1st. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.13. Conagra Brands had a net margin of 7.60% and a return on equity of 14.38%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate that Conagra Brands will post 2.39 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Monday, November 2nd will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.07%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. Conagra Brands’s payout ratio is 37.28%.

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Conagra Brands from $32.00 to $35.00 and gave the stock an equal weight rating in a report on Wednesday, July 1st. Stifel Nicolaus boosted their target price on shares of Conagra Brands from $36.00 to $39.00 in a report on Wednesday, July 1st. Zacks Investment Research raised shares of Conagra Brands from a hold rating to a buy rating and set a $41.00 target price on the stock in a report on Tuesday, September 1st. Credit Suisse Group boosted their target price on shares of Conagra Brands from $36.00 to $38.00 and gave the stock a neutral rating in a report on Wednesday, July 1st. Finally, Deutsche Bank boosted their target price on shares of Conagra Brands from $32.00 to $36.00 and gave the stock a hold rating in a report on Wednesday, July 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $36.00.

In other Conagra Brands news, EVP Colleen Batcheler sold 53,240 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $1,916,640.00. Following the transaction, the executive vice president now owns 194,546 shares in the company, valued at $7,003,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Biegger sold 33,634 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $37.66, for a total transaction of $1,266,656.44. Following the transaction, the executive vice president now owns 66,697 shares in the company, valued at approximately $2,511,809.02. The disclosure for this sale can be found here. Insiders have sold 144,428 shares of company stock worth $5,319,734 in the last quarter. Company insiders own 2.60% of the company’s stock.

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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