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Unveiling Conagra Brands (CAG) Q3 Outlook: Wall Street Estimates for Key Metrics
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In its upcoming report, Conagra Brands (CAG - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.40 per share, reflecting a decline of 21.6% compared to the same period last year. Revenues are forecasted to be $2.77 billion, representing a year-over-year decrease of 2.6%.
The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during 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.
That said, let's delve into the average estimates of some Conagra Brands metrics that Wall Street analysts commonly model and monitor.
It is projected by analysts that the 'Sales- Grocery & Snacks' will reach $1.15 billion. The estimate points to a change of -7.6% from the year-ago quarter.
The consensus among analysts is that 'Sales- Foodservice' will reach $258.40 million. The estimate indicates a year-over-year change of +0.9%.
The average prediction of analysts places 'Sales- International' at $223.59 million. The estimate indicates a change of -0.1% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Sales- Refrigerated & Frozen' of $1.14 billion. The estimate indicates a year-over-year change of +2.1%.
The consensus estimate for 'Price/Mix - Foodservice' stands at 2.3%. The estimate is in contrast to the year-ago figure of 3.7%.
Analysts predict that the 'Price/Mix - International' will reach 1.6%. Compared to the present estimate, the company reported 4.4% in the same quarter last year.
Analysts' assessment points toward 'Adjusted Operating Profit (loss)- Grocery & Snacks' reaching $205.51 million. Compared to the current estimate, the company reported $242.40 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Adjusted Operating Profit (loss)- Refrigerated & Frozen' should arrive at $119.54 million. The estimate compares to the year-ago value of $124.00 million.
Analysts expect 'Adjusted Operating Profit (loss)- Foodservice' to come in at $27.18 million. The estimate is in contrast to the year-ago figure of $28.60 million.
The combined assessment of analysts suggests that 'Adjusted Operating Profit (loss)- International' will likely reach $30.78 million. Compared to the present estimate, the company reported $33.40 million in the same quarter last year.
Shares of Conagra Brands have demonstrated returns of -18.9% over the past month compared to the Zacks S&P 500 composite's -6.2% change. With a Zacks Rank #3 (Hold), CAG is expected to mirror 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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Unveiling Conagra Brands (CAG) Q3 Outlook: Wall Street Estimates for Key Metrics
In its upcoming report, Conagra Brands (CAG - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.40 per share, reflecting a decline of 21.6% compared to the same period last year. Revenues are forecasted to be $2.77 billion, representing a year-over-year decrease of 2.6%.
The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during 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.
That said, let's delve into the average estimates of some Conagra Brands metrics that Wall Street analysts commonly model and monitor.
It is projected by analysts that the 'Sales- Grocery & Snacks' will reach $1.15 billion. The estimate points to a change of -7.6% from the year-ago quarter.
The consensus among analysts is that 'Sales- Foodservice' will reach $258.40 million. The estimate indicates a year-over-year change of +0.9%.
The average prediction of analysts places 'Sales- International' at $223.59 million. The estimate indicates a change of -0.1% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Sales- Refrigerated & Frozen' of $1.14 billion. The estimate indicates a year-over-year change of +2.1%.
The consensus estimate for 'Price/Mix - Foodservice' stands at 2.3%. The estimate is in contrast to the year-ago figure of 3.7%.
Analysts predict that the 'Price/Mix - International' will reach 1.6%. Compared to the present estimate, the company reported 4.4% in the same quarter last year.
Analysts' assessment points toward 'Adjusted Operating Profit (loss)- Grocery & Snacks' reaching $205.51 million. Compared to the current estimate, the company reported $242.40 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Adjusted Operating Profit (loss)- Refrigerated & Frozen' should arrive at $119.54 million. The estimate compares to the year-ago value of $124.00 million.
Analysts expect 'Adjusted Operating Profit (loss)- Foodservice' to come in at $27.18 million. The estimate is in contrast to the year-ago figure of $28.60 million.
The combined assessment of analysts suggests that 'Adjusted Operating Profit (loss)- International' will likely reach $30.78 million. Compared to the present estimate, the company reported $33.40 million in the same quarter last year.
View all Key Company Metrics for Conagra Brands here>>>Shares of Conagra Brands have demonstrated returns of -18.9% over the past month compared to the Zacks S&P 500 composite's -6.2% change. With a Zacks Rank #3 (Hold), CAG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .