Simply Good Foods (NASDAQ:SMPL) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Simply Good Foods (NASDAQ:SMPL) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05, FiscalAI reports. The company had revenue of $333.31 million for the quarter, compared to the consensus estimate of $327.21 million. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%. The firm’s revenue was down 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share.

Simply Good Foods Stock Down 3.1%

SMPL opened at $10.09 on Tuesday. The firm’s 50-day simple moving average is $10.45 and its 200-day simple moving average is $13.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80. Simply Good Foods has a twelve month low of $9.38 and a twelve month high of $22.00. The firm has a market cap of $892.57 million, a price-to-earnings ratio of -4.65 and a beta of 0.19.

Analyst Ratings Changes

Several analysts recently weighed in on SMPL shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 target price on shares of Simply Good Foods in a research note on Friday, July 10th. UBS Group set a $15.00 price target on Simply Good Foods in a research note on Friday, July 10th. Jefferies Financial Group set a $15.00 price target on Simply Good Foods in a report on Wednesday, August 26th. DA Davidson set a $12.00 price objective on Simply Good Foods in a research note on Monday. Finally, TD Cowen dropped their target price on Simply Good Foods from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 26th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.27.

Simply Good Foods Company Profile

The Simply Good Foods Company (NASDAQ: SMPL) is a consumer packaged food company focused on convenient, nutrition-focused products. Its portfolio is built around the Atkins and Quest brands, which serve consumers seeking lower-carbohydrate, higher-protein and better-for-you food options.

The company offers a variety of products, including protein bars, snack bars, shakes, cookies, chips, confectionery items, protein powders and frozen foods. Its products are sold through grocery stores, mass merchants, club stores, drugstores, convenience stores, e-commerce platforms and other retail channels.

Simply Good Foods was established in 2017 through the combination of Conyers Park Acquisition Corp.