FY2024 EPS Estimates for Conagra Brands, Inc. (NYSE:CAG) Raised by Zacks Research

Conagra Brands, Inc. (NYSE:CAG) – Research analysts at Zacks Research raised their FY2024 earnings estimates for shares of Conagra Brands in a research report issued on Thursday, April 18th. Zacks Research analyst V. Bagree now anticipates that the company will post earnings of $2.62 per share for the year, up from their previous forecast of $2.60. The consensus estimate for Conagra Brands’ current full-year earnings is $2.62 per share. Zacks Research also issued estimates for Conagra Brands’ Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.68 EPS, FY2025 earnings at $2.68 EPS, Q1 2026 earnings at $0.68 EPS, Q2 2026 earnings at $0.72 EPS, Q3 2026 earnings at $0.70 EPS and FY2026 earnings at $2.80 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Finally, Citigroup increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.14.

Conagra Brands Trading Up 0.9 %

NYSE CAG opened at $30.63 on Friday. Conagra Brands has a 1-year low of $25.16 and a 1-year high of $38.73. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $14.64 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.04 and a beta of 0.42. The firm’s fifty day simple moving average is $28.83 and its 200-day simple moving average is $28.51.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business posted $0.76 earnings per share. Conagra Brands’s revenue for the quarter was down 1.7% compared to the same quarter last year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio is presently 70.35%.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds have recently made changes to their positions in the stock. DMC Group LLC lifted its stake in shares of Conagra Brands by 2.7% in the first quarter. DMC Group LLC now owns 24,477 shares of the company’s stock valued at $725,000 after buying an additional 638 shares during the period. Norden Group LLC bought a new stake in shares of Conagra Brands in the first quarter valued at about $307,000. Park Place Capital Corp lifted its stake in shares of Conagra Brands by 11.1% in the first quarter. Park Place Capital Corp now owns 11,901 shares of the company’s stock valued at $353,000 after buying an additional 1,190 shares during the period. Iron Horse Wealth Management LLC bought a new stake in shares of Conagra Brands in the first quarter valued at about $59,000. Finally, First Bank & Trust lifted its stake in shares of Conagra Brands by 101.6% in the first quarter. First Bank & Trust now owns 54,863 shares of the company’s stock valued at $1,626,000 after buying an additional 27,643 shares during the period. Institutional investors own 83.75% of the company’s stock.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.