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What Analyst Projections for Key Metrics Reveal About Conagra Brands (CAG) Q3 Earnings
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Wall Street analysts forecast that Conagra Brands (CAG - Free Report) will report quarterly earnings of $0.63 per share in its upcoming release, pointing to a year-over-year decline of 17.1%. It is anticipated that revenues will amount to $3.01 billion, exhibiting a decline of 2.4% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Conagra Brands metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Sales- Grocery & Snacks' should arrive at $1.21 billion. The estimate indicates a year-over-year change of -2.8%.
It is projected by analysts that the 'Sales- Foodservice' will reach $280.32 million. The estimate indicates a change of +1.8% from the prior-year quarter.
Analysts forecast 'Sales- International' to reach $269.87 million. The estimate points to a change of +3.9% from the year-ago quarter.
The combined assessment of analysts suggests that 'Sales- Refrigerated & Frozen' will likely reach $1.25 billion. The estimate indicates a year-over-year change of -4.1%.
Analysts predict that the 'Net sales growth - Total Sales' will reach -2.4%. Compared to the current estimate, the company reported 5.9% in the same quarter of the previous year.
The average prediction of analysts places 'Net sales growth - International' at 3.9%. Compared to the current estimate, the company reported 7.7% in the same quarter of the previous year.
The consensus estimate for 'Net sales growth - Foodservice' stands at 1.8%. Compared to the current estimate, the company reported 17.3% in the same quarter of the previous year.
Analysts' assessment points toward 'Net sales growth - Grocery & Snacks' reaching -2.8%. Compared to the present estimate, the company reported 3.7% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Net sales growth - Refrigerated & Frozen' of -4.1%. The estimate is in contrast to the year-ago figure of 5.6%.
Analysts expect 'Price/Mix - Foodservice' to come in at 3.7%. The estimate compares to the year-ago value of 18.5%.
According to the collective judgment of analysts, 'Price/Mix - International' should come in at 1.0%. Compared to the present estimate, the company reported 16.5% in the same quarter last year.
The consensus among analysts is that 'Price/Mix - Consolidated' will reach -1.1%. Compared to the current estimate, the company reported 15.1% in the same quarter of the previous year.
Shares of Conagra Brands have demonstrated returns of +5.6% over the past month compared to the Zacks S&P 500 composite's +3.7% change. With a Zacks Rank #4 (Sell), CAG is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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What Analyst Projections for Key Metrics Reveal About Conagra Brands (CAG) Q3 Earnings
Wall Street analysts forecast that Conagra Brands (CAG - Free Report) will report quarterly earnings of $0.63 per share in its upcoming release, pointing to a year-over-year decline of 17.1%. It is anticipated that revenues will amount to $3.01 billion, exhibiting a decline of 2.4% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Conagra Brands metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Sales- Grocery & Snacks' should arrive at $1.21 billion. The estimate indicates a year-over-year change of -2.8%.
It is projected by analysts that the 'Sales- Foodservice' will reach $280.32 million. The estimate indicates a change of +1.8% from the prior-year quarter.
Analysts forecast 'Sales- International' to reach $269.87 million. The estimate points to a change of +3.9% from the year-ago quarter.
The combined assessment of analysts suggests that 'Sales- Refrigerated & Frozen' will likely reach $1.25 billion. The estimate indicates a year-over-year change of -4.1%.
Analysts predict that the 'Net sales growth - Total Sales' will reach -2.4%. Compared to the current estimate, the company reported 5.9% in the same quarter of the previous year.
The average prediction of analysts places 'Net sales growth - International' at 3.9%. Compared to the current estimate, the company reported 7.7% in the same quarter of the previous year.
The consensus estimate for 'Net sales growth - Foodservice' stands at 1.8%. Compared to the current estimate, the company reported 17.3% in the same quarter of the previous year.
Analysts' assessment points toward 'Net sales growth - Grocery & Snacks' reaching -2.8%. Compared to the present estimate, the company reported 3.7% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Net sales growth - Refrigerated & Frozen' of -4.1%. The estimate is in contrast to the year-ago figure of 5.6%.
Analysts expect 'Price/Mix - Foodservice' to come in at 3.7%. The estimate compares to the year-ago value of 18.5%.
According to the collective judgment of analysts, 'Price/Mix - International' should come in at 1.0%. Compared to the present estimate, the company reported 16.5% in the same quarter last year.
The consensus among analysts is that 'Price/Mix - Consolidated' will reach -1.1%. Compared to the current estimate, the company reported 15.1% in the same quarter of the previous year.
View all Key Company Metrics for Conagra Brands here>>>
Shares of Conagra Brands have demonstrated returns of +5.6% over the past month compared to the Zacks S&P 500 composite's +3.7% change. With a Zacks Rank #4 (Sell), CAG is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>