Simply Good Foods (NASDAQ:SMPL) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Simply Good Foods (NASDAQ:SMPL) issued its earnings results on Thursday. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02, Briefing.com reports. The business had revenue of $334.80 million for the quarter, compared to analyst estimates of $337.66 million. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. Simply Good Foods’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. Simply Good Foods updated its FY 2024 guidance to EPS.

Simply Good Foods Stock Up 1.2 %

Shares of SMPL stock traded up $0.44 on Friday, hitting $36.13. The stock had a trading volume of 1,687,447 shares, compared to its average volume of 695,687. The business has a 50 day moving average of $36.71 and a 200 day moving average of $36.61. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.65. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 3.09. Simply Good Foods has a 12-month low of $30.00 and a 12-month high of $43.00.

Insider Buying and Selling

In related news, Director James D. White sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $152,680.00. Following the completion of the sale, the director now owns 17,027 shares in the company, valued at $649,920.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SMPL has been the topic of several research analyst reports. Stifel Nicolaus increased their target price on shares of Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Mizuho reissued a “buy” rating and set a $50.00 target price on shares of Simply Good Foods in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Friday, June 14th. TD Cowen began coverage on shares of Simply Good Foods in a research note on Monday, April 22nd. They issued a “hold” rating and a $34.00 price objective on the stock. Finally, DA Davidson raised their price objective on shares of Simply Good Foods from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.86.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.