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ConAgra Foods Swings to Q4 Loss, but Adjusted Results Beat View (CAG)

By Dividend.com,  June 21, 2012, 08:34:40 AM EDT

Packaged foods maker ConAgra Foods, Inc. ( CAG ) on Thursday posted a fiscal fourth quarter loss, hurt by one-time items, although its adjusted totals exceeded Wall Street's expectations.

The Omaha-based company reported a fiscal fourth quarter net loss of $86.2 million, or -21 cents per share, compared with a profit of $250.1 million, or 61 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 51 cents per share.

Revenue rose 6% from last year to $3.41 billion.

On average, Wall Street analysts expected a smaller profit of 50 cents per share, on lower revenue of $3.40 billion.

ConAgra shares rose 28 cents, or +1.1%, in premarket trading Thursday.

The Bottom Line
Shares of ConAgra Foods ( CAG ) have a 3.90% dividend yield, based on last night's closing stock price of $24.60. The stock has technical support in the $22-$23 price area. If the shares can firm up, we see overhead resistance around the $26-$27 price levels.

ConAgra Foods, Inc. ( CAG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CAG



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