The Simply Good Foods Company to Post Q2 2023 Earnings of $0.28 Per Share, Seaport Res Ptn Forecasts (NASDAQ:SMPL)

The Simply Good Foods Company (NASDAQ:SMPL – Get Rating) – Stock analysts at Seaport Res Ptn decreased their Q2 2023 EPS estimates for shares of Simply Good Foods in a report released on Wednesday, January 18th. Seaport Res Ptn analyst E. Larson now anticipates that the financial services provider will earn $0.28 per share for the quarter, down from their prior forecast of $0.35. The consensus estimate for Simply Good Foods’ current full-year earnings is $1.56 per share. Seaport Res Ptn also issued estimates for Simply Good Foods’ Q3 2023 earnings at $0.46 EPS, Q4 2023 earnings at $0.37 EPS, Q1 2024 earnings at $0.42 EPS and Q2 2024 earnings at $0.40 EPS.

Simply Good Foods (NASDAQ:SMPL – Get Rating) last announced its quarterly earnings results on Friday, October 21st. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The business had revenue of $274.20 million during the quarter, compared to the consensus estimate of $260.81 million. Simply Good Foods had a net margin of 10.38% and a return on equity of 10.75%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS.

A number of other equities research analysts have also recently commented on SMPL. Needham & Company LLC initiated coverage on shares of Simply Good Foods in a research note on Tuesday, December 13th. They issued a “buy” rating and a $42.00 price objective on the stock. Credit Suisse Group decreased their target price on shares of Simply Good Foods from $42.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, January 6th. Cowen initiated coverage on shares of Simply Good Foods in a research report on Wednesday, December 14th. They issued a “market perform” rating and a $42.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of Simply Good Foods from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 14th. Finally, Citigroup cut their price target on shares of Simply Good Foods from $50.00 to $46.00 in a report on Sunday, January 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Simply Good Foods Price Performance

Shares of NASDAQ SMPL opened at $34.51 on Monday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 28.29 and a beta of 0.79. Simply Good Foods has a 52 week low of $29.21 and a 52 week high of $45.77. The company’s 50-day moving average price is $37.56 and its 200 day moving average price is $34.91. The company has a current ratio of 4.42, a quick ratio of 2.88 and a debt-to-equity ratio of 0.27.

Institutional Trading of Simply Good Foods

Hedge funds have recently made changes to their positions in the company. Ronald Blue Trust Inc. raised its stake in shares of Simply Good Foods by 121.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 423 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Simply Good Foods by 124.9% during the third quarter. Quadrant Capital Group LLC now owns 902 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 501 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Simply Good Foods by 35.9% during the third quarter. Advisors Asset Management Inc. now owns 1,295 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 342 shares during the period. Captrust Financial Advisors increased its stake in shares of Simply Good Foods by 54.7% in the second quarter. Captrust Financial Advisors now owns 1,644 shares of the financial services provider’s stock worth $62,000 after buying an additional 581 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Simply Good Foods in the first quarter worth $73,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About Simply Good Foods

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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, pizzas, protein chips, and recipes, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names.