Conagra Brands (CAG) Set to Announce Quarterly Earnings on Thursday

Conagra Brands (NYSE:CAG) is set to announce its earnings results before the market opens on Thursday, July 11th. Analysts expect the company to announce earnings of $0.57 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, analysts expect Conagra Brands to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Conagra Brands Stock Performance

Shares of CAG stock opened at $28.13 on Thursday. The company has a market cap of $13.45 billion, a P/E ratio of 14.14, a P/E/G ratio of 2.76 and a beta of 0.32. The firm has a 50-day moving average of $29.80 and a 200-day moving average of $29.23. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands has a one year low of $25.16 and a one year high of $33.76.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.98%. Conagra Brands’s payout ratio is currently 70.35%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAG. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Stifel Nicolaus increased their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Citigroup cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Finally, Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.00.

Insider Transactions at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the sale, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company’s stock.

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.