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Conagra Brands (CAG) Beats Stock Market Upswing: What Investors Need to Know
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Conagra Brands (CAG - Free Report) closed at $28.33 in the latest trading session, marking a +0.46% move from the prior day. This change outpaced the S&P 500's 0.41% gain on the day. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 0.46%.
Shares of the company witnessed a gain of 4.17% over the previous month, trailing the performance of the Consumer Staples sector with its gain of 5.08% and the S&P 500's gain of 7.62%.
Analysts and investors alike will be keeping a close eye on the performance of Conagra Brands in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.67, marking a 17.28% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $3.25 billion, showing a 1.88% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.68 per share and a revenue of $12.3 billion, demonstrating changes of -3.25% and +0.2%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Conagra Brands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Conagra Brands holds a Zacks Rank of #4 (Sell).
Looking at valuation, Conagra Brands is presently trading at a Forward P/E ratio of 10.54. This indicates a discount in contrast to its industry's Forward P/E of 16.46.
We can also see that CAG currently has a PEG ratio of 2.74. 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. The Food - Miscellaneous industry had an average PEG ratio of 2.36 as trading concluded yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Conagra Brands (CAG) Beats Stock Market Upswing: What Investors Need to Know
Conagra Brands (CAG - Free Report) closed at $28.33 in the latest trading session, marking a +0.46% move from the prior day. This change outpaced the S&P 500's 0.41% gain on the day. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 0.46%.
Shares of the company witnessed a gain of 4.17% over the previous month, trailing the performance of the Consumer Staples sector with its gain of 5.08% and the S&P 500's gain of 7.62%.
Analysts and investors alike will be keeping a close eye on the performance of Conagra Brands in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.67, marking a 17.28% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $3.25 billion, showing a 1.88% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.68 per share and a revenue of $12.3 billion, demonstrating changes of -3.25% and +0.2%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Conagra Brands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Conagra Brands holds a Zacks Rank of #4 (Sell).
Looking at valuation, Conagra Brands is presently trading at a Forward P/E ratio of 10.54. This indicates a discount in contrast to its industry's Forward P/E of 16.46.
We can also see that CAG currently has a PEG ratio of 2.74. 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. The Food - Miscellaneous industry had an average PEG ratio of 2.36 as trading concluded yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.