Simply Good Foods (NASDAQ:SMPL) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Simply Good Foods (NASDAQ:SMPL) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.11, MarketWatch Earnings reports. The firm had revenue of $215.10 million for the quarter, compared to analyst estimates of $208.10 million. Simply Good Foods had a return on equity of 5.90% and a net margin of 3.86%. The business’s quarterly revenue was up 54.2% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. Simply Good Foods updated its FY 2020
Pre-Market guidance to 0.86-0.90 EPS and its FY20 guidance to $0.86-0.90 EPS.

Shares of Simply Good Foods stock opened at $22.18 on Thursday. The company has a quick ratio of 2.10, a current ratio of 3.17 and a debt-to-equity ratio of 0.52. Simply Good Foods has a twelve month low of $14.08 and a twelve month high of $31.34. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 76.49 and a beta of 0.61. The company’s 50 day moving average is $17.77 and its 200 day moving average is $20.41.

In other Simply Good Foods news, Director James M. Kilts purchased 87,862 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were acquired at an average cost of $17.68 per share, for a total transaction of $1,553,400.16. Following the completion of the transaction, the director now owns 961,268 shares of the company’s stock, valued at $16,995,218.24. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian K. Ratzan acquired 15,000 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were acquired at an average cost of $16.00 per share, with a total value of $240,000.00. Following the transaction, the director now owns 81,254 shares in the company, valued at $1,300,064. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 138,149 shares of company stock valued at $2,384,222. Company insiders own 3.00% of the company’s stock.

SMPL has been the topic of a number of research analyst reports. Deutsche Bank reduced their target price on Simply Good Foods from $30.00 to $24.00 in a report on Tuesday, April 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $23.00 price target on shares of Simply Good Foods in a research note on Monday, April 6th. Zacks Investment Research raised shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Citigroup assumed coverage on shares of Simply Good Foods in a research note on Thursday, May 21st. They set a “buy” rating and a $22.00 target price for the company. Finally, DA Davidson dropped their price target on Simply Good Foods from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $27.14.

Simply Good Foods Company Profile

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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Earnings History for Simply Good Foods (NASDAQ:SMPL)

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