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 FY22 guidance to $2.63-2.73 EPS.

NYSE:CAG opened at $37.24 on Thursday. The firm has a market cap of $18.19 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.35 and a current ratio of 0.83. Conagra Brands has a fifty-two week low of $30.12 and a fifty-two week high of $39.34. The firm has a 50-day simple moving average of $36.31 and a two-hundred day simple moving average of $35.81.

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

CAG has been the subject of a number of research analyst reports. Credit Suisse Group lifted their price target 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. Jefferies Financial Group began coverage on shares of Conagra Brands in a research report on Friday, January 8th. They set a buy rating and a $41.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Conagra Brands from a sell rating to a hold rating and set a $36.00 target price for the company in a research report on Monday, January 11th. 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 stock. Conagra Brands currently has a consensus rating of Hold and a consensus target price of $36.71.

In related news, Director Richard H. Lenny purchased 10,000 shares of the business’s 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas M. Mcgough sold 45,660 shares of the company’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $37.55, for a total transaction of $1,714,533.00. Following the completion of the transaction, the chief operating officer now owns 102,001 shares in the company, valued at $3,830,137.55. The disclosure for this sale can be found here. 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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