Wall Street analysts expect Conagra Brands Inc (NYSE:CAG) to report earnings of $0.49 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Conagra Brands’ earnings. The highest EPS estimate is $0.51 and the lowest is $0.48. Conagra Brands posted earnings of $0.61 per share in the same quarter last year, which would suggest a negative year over year growth rate of 19.7%. The firm is expected to announce its next quarterly earnings report on Thursday, March 28th.
On average, analysts expect that Conagra Brands will report full-year earnings of $2.06 per share for the current year, with EPS estimates ranging from $2.05 to $2.08. For the next fiscal year, analysts forecast that the company will report earnings of $2.29 per share, with EPS estimates ranging from $2.13 to $2.43. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Conagra Brands.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 20th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.41 billion. Conagra Brands had a net margin of 9.07% and a return on equity of 19.45%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS.
CAG has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Conagra Brands from a “buy” rating to a “sell” rating in a research report on Wednesday, September 26th. Jefferies Financial Group set a $44.00 price objective on shares of Conagra Brands and gave the stock a “buy” rating in a report on Thursday, September 27th. ValuEngine downgraded shares of Conagra Brands from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. UBS Group raised shares of Conagra Brands from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $40.00 in a report on Monday, October 8th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Conagra Brands in a report on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Conagra Brands presently has an average rating of “Hold” and a consensus price target of $41.40.
Hedge funds and other institutional investors have recently made changes to their positions in the business. JNBA Financial Advisors grew its position in shares of Conagra Brands by 761.4% during the 3rd quarter. JNBA Financial Advisors now owns 4,393 shares of the company’s stock worth $149,000 after buying an additional 3,883 shares during the period. IMS Capital Management grew its holdings in Conagra Brands by 780.0% during the third quarter. IMS Capital Management now owns 4,400 shares of the company’s stock valued at $149,000 after purchasing an additional 3,900 shares during the period. Vectors Research Management LLC bought a new stake in Conagra Brands during the third quarter worth $165,000. Bray Capital Advisors bought a new stake in Conagra Brands during the third quarter worth $170,000. Finally, LFA Lugano Financial Advisors SA raised its position in Conagra Brands by 137.6% during the third quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock worth $175,000 after acquiring an additional 2,984 shares in the last quarter. 87.02% of the stock is owned by institutional investors.
NYSE CAG traded down $0.59 during midday trading on Wednesday, hitting $21.02. The company had a trading volume of 168,064 shares, compared to its average volume of 9,844,088. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.47 and a quick ratio of 0.69. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 1.30 and a beta of 0.69. Conagra Brands has a fifty-two week low of $20.22 and a fifty-two week high of $39.43.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, January 30th will be paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, January 29th. Conagra Brands’s dividend payout ratio is presently 40.28%.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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