NEW YORK (TheStreet) -- ConAgra Foods (CAG) shares are down 3.67% to $35.74 in early market trading on Thursday after the packaged food company released its second quarter earnings results before the opening bell today.
The company reported second quarter net income of $10 million, or 61 cents per diluted share on an adjusted basis, which was in line with analysts' consensus guidance for the quarter.
ConAgra also reported generating $4.15 billion in revenue during the quarter, just shy of analysts' $4.20 billion expectations for the period.
Consumer food sales decreased 2% during the quarter with volume down 1%. The company expects to see fiscal 2015 diluted EPS growth in the mid-single digits over the $2.17 EPS it recorded in 2014.
TheStreet Ratings team rates CONAGRA FOODS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CONAGRA FOODS INC (CAG) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: CAG Ratings Report