Zacks: Analysts Anticipate Conagra Brands Inc (CAG) Will Announce Earnings of $0.42 Per Share

Wall Street brokerages expect Conagra Brands Inc (NYSE:CAG) to post $0.42 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Conagra Brands’ earnings, with the lowest EPS estimate coming in at $0.41 and the highest estimate coming in at $0.43. Conagra Brands posted earnings per share of $0.50 in the same quarter last year, which would indicate a negative year over year growth rate of 16%. The business is expected to issue its next earnings results on Wednesday, June 26th.

According to Zacks, analysts expect that Conagra Brands will report full year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $2.06 to $2.08. For the next financial year, analysts forecast that the business will report earnings of $2.17 per share, with EPS estimates ranging from $2.13 to $2.18. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Conagra Brands.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, March 21st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share.

Several equities research analysts have issued reports on CAG shares. Bank of America set a $30.00 target price on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, March 22nd. Credit Suisse Group raised their target price on Conagra Brands from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Goldman Sachs Group set a $32.00 target price on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research cut Conagra Brands from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Finally, ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $37.08.

CAG stock traded down $0.06 during midday trading on Friday, hitting $28.83. 2,991,347 shares of the company’s stock were exchanged, compared to its average volume of 7,167,568. The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 1.49. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.97 and a beta of 0.81. Conagra Brands has a 1-year low of $20.22 and a 1-year high of $39.43.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, April 30th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.95%. Conagra Brands’s payout ratio is presently 40.28%.

In other news, Director Joie A. Gregor acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was acquired at an average cost of $29.99 per share, with a total value of $299,900.00. Following the completion of the purchase, the director now owns 145,440 shares of the company’s stock, valued at approximately $4,361,745.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Ann Marshall sold 6,717 shares of Conagra Brands stock in a transaction on Friday, April 26th. The shares were sold at an average price of $31.00, for a total value of $208,227.00. Following the completion of the sale, the director now directly owns 99,897 shares of the company’s stock, valued at $3,096,807. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in Conagra Brands by 8.8% in the third quarter. Legal & General Group Plc now owns 2,223,955 shares of the company’s stock valued at $75,529,000 after purchasing an additional 179,744 shares during the period. Vanguard Group Inc boosted its holdings in Conagra Brands by 0.8% in the third quarter. Vanguard Group Inc now owns 45,019,445 shares of the company’s stock valued at $1,529,309,000 after purchasing an additional 362,347 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Conagra Brands by 11.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the company’s stock valued at $545,000 after purchasing an additional 2,600 shares during the period. Strs Ohio boosted its holdings in Conagra Brands by 34.9% in the fourth quarter. Strs Ohio now owns 42,757 shares of the company’s stock valued at $913,000 after purchasing an additional 11,067 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Conagra Brands in the fourth quarter valued at $4,957,000. 83.08% of the stock is owned by institutional investors and hedge funds.

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

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