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Conagra Brands (CAG) Flat As Market Sinks: What You Should Know
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In the latest trading session, Conagra Brands (CAG - Free Report) closed at $31.28, marking no change from the previous day. This change was narrower than the S&P 500's daily loss of 0.11%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 0.68%.
Coming into today, shares of the company had lost 6.33% in the past month. In that same time, the Consumer Staples sector gained 0.91%, while the S&P 500 gained 1.43%.
Wall Street will be looking for positivity from Conagra Brands as it approaches its next earnings report date. In that report, analysts expect Conagra Brands to post earnings of $0.60 per share. This would mark year-over-year growth of 5.26%. Meanwhile, our latest consensus estimate is calling for revenue of $2.96 billion, up 2.02% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.73 per share and revenue of $12.41 billion, which would represent changes of -1.44% and +1.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Conagra Brands. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 3.8% lower. Conagra Brands is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Conagra Brands currently has a Forward P/E ratio of 11.4. For comparison, its industry has an average Forward P/E of 16.38, which means Conagra Brands is trading at a discount to the group.
It is also worth noting that CAG currently has a PEG ratio of 3.12. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Miscellaneous was holding an average PEG ratio of 2.56 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Conagra Brands (CAG) Flat As Market Sinks: What You Should Know
In the latest trading session, Conagra Brands (CAG - Free Report) closed at $31.28, marking no change from the previous day. This change was narrower than the S&P 500's daily loss of 0.11%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 0.68%.
Coming into today, shares of the company had lost 6.33% in the past month. In that same time, the Consumer Staples sector gained 0.91%, while the S&P 500 gained 1.43%.
Wall Street will be looking for positivity from Conagra Brands as it approaches its next earnings report date. In that report, analysts expect Conagra Brands to post earnings of $0.60 per share. This would mark year-over-year growth of 5.26%. Meanwhile, our latest consensus estimate is calling for revenue of $2.96 billion, up 2.02% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.73 per share and revenue of $12.41 billion, which would represent changes of -1.44% and +1.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Conagra Brands. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 3.8% lower. Conagra Brands is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Conagra Brands currently has a Forward P/E ratio of 11.4. For comparison, its industry has an average Forward P/E of 16.38, which means Conagra Brands is trading at a discount to the group.
It is also worth noting that CAG currently has a PEG ratio of 3.12. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Miscellaneous was holding an average PEG ratio of 2.56 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.