Conagra Brands (NYSE:CAG) Issues Quarterly Earnings Results

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

Conagra Brands Stock Down 2.2 %

NYSE CAG traded down $0.58 during trading hours on Tuesday, reaching $25.41. 2,696,818 shares of the company's stock traded hands, compared to its average volume of 5,087,958. Conagra Brands has a 52-week low of $23.06 and a 52-week high of $33.24. 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 50-day simple moving average of $25.73 and a 200 day simple moving average of $27.36. The firm has a market cap of $12.13 billion, a PE ratio of 24.92, a PEG ratio of 1.76 and a beta of 0.27.

Conagra Brands Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on CAG shares. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price target for the company from $33.00 to $26.00 in a report on Monday, February 24th. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Finally, Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price on the stock. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.