Brokerages Expect Conagra Brands Inc. (CAG) Will Post Earnings of $0.52 Per Share

Equities research analysts expect Conagra Brands Inc. (NYSE:CAG) to report $0.52 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Conagra Brands’ earnings. The highest EPS estimate is $0.52 and the lowest is $0.51. Conagra Brands posted earnings of $0.49 per share during the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The firm is scheduled to issue its next earnings results on Thursday, December 28th.

On average, analysts expect that Conagra Brands will report full year earnings of $1.90 per share for the current year, with EPS estimates ranging from $1.86 to $1.92. For the next financial year, analysts anticipate that the business will report earnings of $2.06 per share, with EPS estimates ranging from $2.02 to $2.11. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Conagra Brands.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business posted $0.37 earnings per share. Conagra Brands’s revenue was down 4.8% compared to the same quarter last year.

CAG has been the subject of several analyst reports. BidaskClub downgraded Conagra Brands from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Morgan Stanley reduced their target price on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, September 25th. Credit Suisse Group dropped their price target on Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, September 25th. Jefferies Group reissued a “buy” rating and set a $40.00 price target on shares of Conagra Brands in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.03.

Shares of Conagra Brands (NYSE CAG) traded down $0.76 during midday trading on Friday, hitting $37.17. The stock had a trading volume of 2,480,700 shares, compared to its average volume of 3,478,224. Conagra Brands has a twelve month low of $32.16 and a twelve month high of $41.68. The stock has a market capitalization of $15,494.33, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 2.86 and a beta of 0.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 1.03.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, October 13th were given a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, October 30th. Conagra Brands’s payout ratio is currently 60.28%.

In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $34.28, for a total value of $4,589,029.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC boosted its stake in shares of Conagra Brands by 7.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 100,470 shares of the company’s stock worth $3,593,000 after acquiring an additional 7,000 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Conagra Brands by 1.2% during the 2nd quarter. State of Tennessee Treasury Department now owns 1,360,161 shares of the company’s stock worth $48,640,000 after acquiring an additional 16,143 shares in the last quarter. Alethea Capital Management LLC bought a new stake in shares of Conagra Brands during the 2nd quarter worth about $3,610,000. Sciencast Management LP bought a new stake in shares of Conagra Brands during the 2nd quarter worth about $1,262,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Conagra Brands by 482.0% during the 3rd quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock worth $9,764,000 after acquiring an additional 239,667 shares in the last quarter. Institutional investors own 79.04% of the company’s stock.

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About Conagra Brands

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.

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Earnings History and Estimates for Conagra Brands (NYSE:CAG)

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