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Conagra Brands (CAG) Falls More Steeply Than Broader Market: What Investors Need to Know
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Conagra Brands (CAG - Free Report) closed the latest trading day at $28.76, indicating a -0.69% change from the previous session's end. This change lagged the S&P 500's 0.06% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.31%.
Prior to today's trading, shares of the company had gained 5.58% over the past month. This has outpaced the Consumer Staples sector's gain of 3.24% and the S&P 500's gain of 5.1% in that time.
Market participants will be closely following the financial results of Conagra Brands in its upcoming release. The company plans to announce its earnings on January 4, 2024. On that day, Conagra Brands is projected to report earnings of $0.67 per share, which would represent a year-over-year decline of 17.28%. At the same time, our most recent consensus estimate is projecting a revenue of $3.25 billion, reflecting a 1.88% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.68 per share and a revenue of $12.3 billion, indicating changes of -3.25% and +0.2%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Conagra Brands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Conagra Brands is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Conagra Brands has a Forward P/E ratio of 10.82 right now. This valuation marks a discount compared to its industry's average Forward P/E of 16.85.
We can additionally observe that CAG currently boasts a PEG ratio of 2.81. 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. As the market closed yesterday, the Food - Miscellaneous industry was having an average PEG ratio of 2.47.
The Food - Miscellaneous industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Conagra Brands (CAG) Falls More Steeply Than Broader Market: What Investors Need to Know
Conagra Brands (CAG - Free Report) closed the latest trading day at $28.76, indicating a -0.69% change from the previous session's end. This change lagged the S&P 500's 0.06% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.31%.
Prior to today's trading, shares of the company had gained 5.58% over the past month. This has outpaced the Consumer Staples sector's gain of 3.24% and the S&P 500's gain of 5.1% in that time.
Market participants will be closely following the financial results of Conagra Brands in its upcoming release. The company plans to announce its earnings on January 4, 2024. On that day, Conagra Brands is projected to report earnings of $0.67 per share, which would represent a year-over-year decline of 17.28%. At the same time, our most recent consensus estimate is projecting a revenue of $3.25 billion, reflecting a 1.88% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.68 per share and a revenue of $12.3 billion, indicating changes of -3.25% and +0.2%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Conagra Brands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Conagra Brands is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Conagra Brands has a Forward P/E ratio of 10.82 right now. This valuation marks a discount compared to its industry's average Forward P/E of 16.85.
We can additionally observe that CAG currently boasts a PEG ratio of 2.81. 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. As the market closed yesterday, the Food - Miscellaneous industry was having an average PEG ratio of 2.47.
The Food - Miscellaneous industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.