ConAgra Reports Increased Profits; Beats Estimates (CAG)
Food company, ConAgra Foods, Inc.(CAG) reported an increase in quarterly profits, beating analysts estimates on Thursday.
The Omaha, NE based company reported second quarter earnings of $211.6 million, or 51 cents per share, up 15% from last years earnings of $180.2 million, or 43 cents per share. Excluding special items, EPS came in at 57 cents, up from 49 cents last year. Analysts expected to see EPS of 55 cents.
Revenue for the quarter came in at $3.74 billion, a 9% increase from $3.43 billion last year. Analysts expected to see revenue of $3.69 billion.
Looking ahead, the company expects to see FY2013 earnings to be at least $2.06 per share. Previously, the company estimated EPS for the year to be in the range of $2.03 to $2.06. Analysts are expecting EPS of $2.07.
ConAgra Foods shares were up 94 cents, or 3.14% during premarket trading Thursday. The stock is up 13.5% YTD.
ConAgra is a food company, which focuses on providing products to commercial customers as well as consumers. CAG offers several types of products including meals, entrees, condiments, sides, snacks, and desserts.
ConAgra Dividend In Focus
ConAgra has increased their dividend in the most recent quarter by 1 cent to 25 cents each quarter. CAG currently has a dividend yield of 3.34%. The company’s next dividend payment of 25 cents is set to be paid on March 5, 2013 to shareholders of record on January 31, 2013. The stock will go ex-dividend on January 29, 2013. (view the Dividend.com Ex-Dividend Tool for information on all upcoming ex-dividend dates).
Recent ConAgra dividends include:
- December 4, 2012: $0.25
- August 29, 2012: $0.24
- June 1, 2012: $0.24
|Year||Dividend ($M)||Payout Ratio|
ConAgra vs. The Competition
|MKC||McCormick & Co.||2.1%||3.4|
|HNZ||HJ Heinz Co.s||3.49%||3.6|
Use the Dividend.com screener to see all dividend-paying consumer goods stocks, or run other custom searches for dividend-paying stocks.
The Bottom Line
ConAgra Foods, Inc.(CAG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability