$0.40 EPS Expected for Conagra Brands Inc (NYSE:CAG) This Quarter

Equities research analysts forecast that Conagra Brands Inc (NYSE:CAG) will report $0.40 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Conagra Brands’ earnings. The highest EPS estimate is $0.43 and the lowest is $0.37. Conagra Brands posted earnings per share of $0.47 during the same quarter last year, which would suggest a negative year-over-year growth rate of 14.9%. The business is expected to announce its next earnings report on Thursday, September 26th.

According to Zacks, analysts expect that Conagra Brands will report full-year earnings of $2.11 per share for the current year, with EPS estimates ranging from $2.05 to $2.15. For the next year, analysts expect that the company will post earnings of $2.33 per share, with EPS estimates ranging from $2.22 to $2.40. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Conagra Brands.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was up 32.9% on a year-over-year basis.

CAG has been the topic of a number of analyst reports. ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Bank of America set a $35.00 price objective on Conagra Brands and gave the company a “buy” rating in a research report on Friday, June 28th. Citigroup lowered their price objective on Conagra Brands from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley initiated coverage on Conagra Brands in a research report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price objective on the stock. Finally, Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price objective on the stock in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.42.

In other news, Director Ruth Ann Marshall sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $27.00, for a total transaction of $81,000.00. Following the transaction, the director now owns 102,387 shares of the company’s stock, valued at approximately $2,764,449. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Craig P. Omtvedt bought 25,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $26.73 per share, for a total transaction of $668,250.00. The disclosure for this purchase can be found here. Insiders have sold a total of 13,436 shares of company stock worth $379,762 in the last three months. 0.92% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Conagra Brands by 20.9% in the 1st quarter. BlackRock Inc. now owns 43,165,563 shares of the company’s stock worth $1,197,414,000 after buying an additional 7,469,653 shares during the period. FMR LLC lifted its holdings in shares of Conagra Brands by 27.2% in the 1st quarter. FMR LLC now owns 14,183,529 shares of the company’s stock worth $393,451,000 after buying an additional 3,031,757 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Conagra Brands by 36.8% in the 4th quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock worth $146,052,000 after buying an additional 1,840,875 shares during the period. Coho Partners Ltd. lifted its holdings in shares of Conagra Brands by 13.6% in the 1st quarter. Coho Partners Ltd. now owns 4,357,850 shares of the company’s stock worth $120,887,000 after buying an additional 520,982 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Conagra Brands by 8.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 3,200,000 shares of the company’s stock worth $88,768,000 after buying an additional 262,291 shares during the period. Institutional investors own 88.41% of the company’s stock.

CAG stock opened at $28.00 on Friday. Conagra Brands has a twelve month low of $20.22 and a twelve month high of $38.43. The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 1.43. The stock has a market cap of $13.74 billion, a PE ratio of 13.93, a P/E/G ratio of 1.91 and a beta of 0.86. The company’s 50-day moving average is $28.30.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, July 30th will be paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, July 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.

About Conagra Brands

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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