UPDATE: ConAgra Foods Spikes To Yr Highs as Q1 Beats, Raises FY13 EPS Guidance Above Street, Lifts Dividend

By MidnightTrader.com Staff,

Shutterstock photo

ConAgra Foods ( CAG ) is up 7.1% at $27.47 after hitting a new year high of $27.75. CAG today reported Q1 earnings of $0.44 per share, ex one-time items, versus the Capital IQ consensus of $0.35. Revenues were $3.31 bln, versus the analyst estimate of $3.24 bln.

The company raised its FY13 EPS outlook to $2.03 - $2.06, excluding non-recurring items, from the previous outlook of $1.95 - $1.99, above the $1.98 consensus estimate.

Additionally, CAG's board of directors raised the quarterly dividend by $0.01 to $0.25 per share, starting with the dividend to be paid in December 2012. With this change, CAG's annualized dividend will be $1.00 per share.

Shares have increased 19% in the last 12 months.

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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CAG

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com