Brokerages predict that Conagra Brands Inc. (NYSE:CAG) will report earnings of $0.52 per share for the current quarter, according to Zacks. Four analysts have made estimates for Conagra Brands’ earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.51. Conagra Brands posted earnings of $0.49 per share during the same quarter last year, which would suggest a positive year over year growth rate of 6.1%. The firm is expected to announce its next earnings results on Thursday, December 28th.
According to Zacks, analysts expect that Conagra Brands will report full-year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.86 to $1.92. For the next fiscal year, analysts expect 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 posted its earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS.
A number of brokerages have commented on CAG. Credit Suisse Group set a $39.00 target price on shares of Conagra Brands and gave the stock a “hold” rating in a report on Saturday, July 1st. UBS AG restated a “sell” rating and set a $33.00 price objective (down previously from $35.00) on shares of Conagra Brands in a report on Friday, June 30th. BidaskClub downgraded shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Conagra Brands in a report on Friday, September 29th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $40.24.
In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of Conagra Brands stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. IndexIQ Advisors LLC grew its holdings in Conagra Brands by 0.4% during the second quarter. IndexIQ Advisors LLC now owns 9,828 shares of the company’s stock worth $352,000 after acquiring an additional 36 shares during the period. Conning Inc. boosted its position in Conagra Brands by 0.6% during the second quarter. Conning Inc. now owns 11,616 shares of the company’s stock worth $415,000 after purchasing an additional 70 shares in the last quarter. Keel Point LLC boosted its position in Conagra Brands by 1.2% during the first quarter. Keel Point LLC now owns 8,379 shares of the company’s stock worth $338,000 after purchasing an additional 96 shares in the last quarter. Curbstone Financial Management Corp boosted its position in Conagra Brands by 1.5% during the second quarter. Curbstone Financial Management Corp now owns 6,800 shares of the company’s stock worth $243,000 after purchasing an additional 100 shares in the last quarter. Finally, Home Federal Bank of Tennessee boosted its position in Conagra Brands by 1.5% during the second quarter. Home Federal Bank of Tennessee now owns 10,185 shares of the company’s stock worth $365,000 after purchasing an additional 155 shares in the last quarter. 79.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Conagra Brands (NYSE:CAG) traded up 0.93% on Wednesday, hitting $33.69. 3,480,572 shares of the company traded hands. The firm has a market capitalization of $13.76 billion, a P/E ratio of 24.22 and a beta of 0.31. The firm’s 50-day moving average is $34.00 and its 200 day moving average is $35.83. Conagra Brands has a 1-year low of $32.16 and a 1-year high of $41.68.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 13th will be paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, October 30th. Conagra Brands’s payout ratio is 60.28%.
Conagra Brands Company Profile
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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