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Conagra Brands (CAG) Dips More Than Broader Market: What You Should Know
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Conagra Brands (CAG - Free Report) closed the latest trading day at $28.35, indicating a -0.32% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 0.54%.
The company's shares have seen an increase of 4.21% over the last month, surpassing the Consumer Staples sector's gain of 1.63% and the S&P 500's gain of 3.18%.
The investment community will be closely monitoring the performance of Conagra Brands in its forthcoming earnings report. The company is scheduled to release its earnings on April 4, 2024. The company is expected to report EPS of $0.63, down 17.11% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $3.02 billion, indicating a 2.3% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.59 per share and a revenue of $12.09 billion, demonstrating changes of -6.5% and -1.51%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Conagra Brands. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Conagra Brands is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, Conagra Brands is currently being traded at a Forward P/E ratio of 10.97. For comparison, its industry has an average Forward P/E of 17.36, which means Conagra Brands is trading at a discount to the group.
Investors should also note that CAG has a PEG ratio of 3.02 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Food - Miscellaneous industry currently had an average PEG ratio of 2.03 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Conagra Brands (CAG) Dips More Than Broader Market: What You Should Know
Conagra Brands (CAG - Free Report) closed the latest trading day at $28.35, indicating a -0.32% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 0.54%.
The company's shares have seen an increase of 4.21% over the last month, surpassing the Consumer Staples sector's gain of 1.63% and the S&P 500's gain of 3.18%.
The investment community will be closely monitoring the performance of Conagra Brands in its forthcoming earnings report. The company is scheduled to release its earnings on April 4, 2024. The company is expected to report EPS of $0.63, down 17.11% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $3.02 billion, indicating a 2.3% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.59 per share and a revenue of $12.09 billion, demonstrating changes of -6.5% and -1.51%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Conagra Brands. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Conagra Brands is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, Conagra Brands is currently being traded at a Forward P/E ratio of 10.97. For comparison, its industry has an average Forward P/E of 17.36, which means Conagra Brands is trading at a discount to the group.
Investors should also note that CAG has a PEG ratio of 3.02 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Food - Miscellaneous industry currently had an average PEG ratio of 2.03 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.