Simply Good Foods (NASDAQ:SMPL) Releases Earnings Results, Beats Expectations By $0.02 EPS

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

Simply Good Foods Stock Up 1.2 %

Shares of Simply Good Foods stock traded up $0.44 on Friday, hitting $36.13. The company had a trading volume of 1,687,447 shares, compared to its average volume of 695,687. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00. The stock has a 50-day moving average of $36.71 and a 200-day moving average of $36.61. The firm has a market capitalization of $3.61 billion, a P/E ratio of 24.92, a P/E/G 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.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 14th. Stifel Nicolaus upped their target price on shares of Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. TD Cowen assumed coverage on shares of Simply Good Foods in a research note on Monday, April 22nd. They issued a “hold” rating and a $34.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Simply Good Foods in a research note on Thursday, April 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Simply Good Foods in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.86.

Insider Buying and Selling

In related news, Director James D. White sold 4,000 shares of the stock in a transaction on 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 transaction, the director now owns 17,027 shares in the company, valued at $649,920.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.98% of the stock is currently owned by corporate insiders.

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.