Zacks: Analysts Anticipate Simply Good Foods Co (SMPL) Will Post Quarterly Sales of $116.15 Million

Analysts expect that Simply Good Foods Co (NASDAQ:SMPL) will announce sales of $116.15 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Simply Good Foods’ earnings, with the lowest sales estimate coming in at $114.70 million and the highest estimate coming in at $119.00 million. Simply Good Foods reported sales of $107.23 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The business is expected to report its next quarterly earnings report on Tuesday, July 9th.

On average, analysts expect that Simply Good Foods will report full year sales of $484.89 million for the current financial year, with estimates ranging from $481.86 million to $487.20 million. For the next year, analysts expect that the business will report sales of $503.98 million, with estimates ranging from $488.93 million to $521.40 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Simply Good Foods.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $123.80 million for the quarter, compared to the consensus estimate of $121.91 million. Simply Good Foods had a return on equity of 6.34% and a net margin of 10.17%. Simply Good Foods’s revenue was up 13.3% on a year-over-year basis.

SMPL has been the topic of a number of recent analyst reports. Buckingham Research upped their price target on Simply Good Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. SunTrust Banks downgraded Simply Good Foods from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $23.00 in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Simply Good Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Simply Good Foods has a consensus rating of “Buy” and a consensus target price of $23.00.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new stake in shares of Simply Good Foods during the first quarter valued at $30,000. US Bancorp DE boosted its holdings in Simply Good Foods by 82.1% in the first quarter. US Bancorp DE now owns 1,845 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 832 shares during the last quarter. First Quadrant L P CA purchased a new stake in Simply Good Foods in the fourth quarter valued at $73,000. SEI Investments Co boosted its holdings in Simply Good Foods by 20.4% in the first quarter. SEI Investments Co now owns 3,895 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 660 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. boosted its holdings in Simply Good Foods by 48.2% in the first quarter. C M Bidwell & Associates Ltd. now owns 3,995 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 1,300 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SMPL stock traded up $0.14 during trading hours on Friday, reaching $22.11. 131,403 shares of the company’s stock were exchanged, compared to its average volume of 387,212. The company has a market cap of $1.81 billion, a PE ratio of 38.12 and a beta of 0.73. The company has a current ratio of 9.17, a quick ratio of 7.85 and a debt-to-equity ratio of 0.23. Simply Good Foods has a fifty-two week low of $12.96 and a fifty-two week high of $23.29.

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 and Estimates for Simply Good Foods (NASDAQ:SMPL)

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