Conagra Brands (NYSE:CAG) Issues Earnings Results, Misses Expectations By $0.07 EPS

Conagra Brands (NYSE:CAG) posted its quarterly earnings results on Wednesday. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07), Briefing.com reports. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. Conagra Brands updated its FY25 guidance to $2.60-2.65 EPS.

Conagra Brands Stock Down 8.1 %

CAG stock opened at $30.08 on Thursday. The company has a 50 day moving average of $31.29 and a two-hundred day moving average of $30.26. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 2.95 and a beta of 0.32. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is presently 191.78%.

Wall Street Analyst Weigh In

CAG has been the subject of several research reports. Royal Bank of Canada reduced their price objective on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company dropped their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Stifel Nicolaus reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.10.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.