Conagra Brands (CAG - Free Report) closed at $28.72 in the latest trading session, marking a -0.76% move from the prior day. This move lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.01%.
Prior to today's trading, shares of the company had lost 4.14% over the past month. This has lagged the Consumer Staples sector's loss of 1.94% and the S&P 500's gain of 0.38% in that time.
Wall Street will be looking for positivity from Conagra Brands as it approaches its next earnings report date. This is expected to be October 5, 2023. On that day, Conagra Brands is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 5.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.95 billion, up 1.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.71 per share and revenue of $12.38 billion. These totals would mark changes of -2.17% and +1.4%, respectively, from last year.
Any recent changes to analyst estimates for Conagra Brands should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% lower. Conagra Brands is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Conagra Brands's current valuation metrics, including its Forward P/E ratio of 10.67. This represents a discount compared to its industry's average Forward P/E of 15.98.
It is also worth noting that CAG currently has a PEG ratio of 3.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.49 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAG in the coming trading sessions, be sure to utilize Zacks.com.
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Conagra Brands (CAG - Free Report) closed at $28.72 in the latest trading session, marking a -0.76% move from the prior day. This move lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.01%.
Prior to today's trading, shares of the company had lost 4.14% over the past month. This has lagged the Consumer Staples sector's loss of 1.94% and the S&P 500's gain of 0.38% in that time.
Wall Street will be looking for positivity from Conagra Brands as it approaches its next earnings report date. This is expected to be October 5, 2023. On that day, Conagra Brands is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 5.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.95 billion, up 1.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.71 per share and revenue of $12.38 billion. These totals would mark changes of -2.17% and +1.4%, respectively, from last year.
Any recent changes to analyst estimates for Conagra Brands should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% lower. Conagra Brands is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Conagra Brands's current valuation metrics, including its Forward P/E ratio of 10.67. This represents a discount compared to its industry's average Forward P/E of 15.98.
It is also worth noting that CAG currently has a PEG ratio of 3.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.49 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAG in the coming trading sessions, be sure to utilize Zacks.com.
Top 5 Dividend Stocks for Your Retirement
Zacks targets 5 well-established companies with solid fundamentals and a history of raising dividends. More importantly, they have the resources and will to likely pay them in the future.
Click now for a Special Report packed with unconventional wisdom and insights you simply won’t get from your neighborhood financial planner.
See our Top 5 now – the report is FREE >>
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