Conagra Brands (NYSE:CAG) Issues Earnings Results

Conagra Brands (NYSE:CAG - Get Free Report) announced its earnings results on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01), Zacks reports. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company earned $0.69 EPS. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. Conagra Brands updated its FY25 guidance to approx $2.35 EPS.

Conagra Brands Stock Performance

Shares of CAG traded down $0.58 on Tuesday, reaching $25.41. 2,696,818 shares of the stock traded hands, compared to its average volume of 5,087,958. The stock's 50-day moving average price is $25.73 and its 200-day moving average price is $27.36. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 1.76 and a beta of 0.27. Conagra Brands has a 12 month low of $23.06 and a 12 month high of $33.24.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is presently 205.88%.

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAG. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective for the company. Finally, Barclays raised their target price on Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $27.90.

Conagra Brands Company Profile

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.