Analysts Anticipate Conagra Brands Inc (NYSE:CAG) Will Post Earnings of $0.40 Per Share
Analysts expect Conagra Brands Inc (NYSE:CAG) to post earnings of $0.40 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Conagra Brands’ earnings, with estimates ranging from $0.37 to $0.43. Conagra Brands posted earnings per share of $0.47 during the same quarter last year, which indicates a negative year over year growth rate of 14.9%. The firm is scheduled to announce its next quarterly 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 fiscal year, with EPS estimates ranging from $2.05 to $2.15. For the next fiscal year, analysts forecast that the business will post earnings of $2.33 per share, with EPS estimates ranging from $2.19 to $2.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover Conagra Brands.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, June 27th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 32.9% on a year-over-year basis.
In related news, Director Ruth Ann Marshall sold 3,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $27.00, for a total value of $81,000.00. Following the completion of the sale, the director now owns 102,387 shares of the company’s stock, valued at approximately $2,764,449. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Craig P. Omtvedt purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $26.73 per share, with a total value of $668,250.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 12,717 shares of company stock valued at $374,577. 0.92% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. grew its holdings in shares of Conagra Brands by 2.7% during the first quarter. First Allied Advisory Services Inc. now owns 14,258 shares of the company’s stock worth $397,000 after buying an additional 371 shares in the last quarter. Old North State Trust LLC grew its holdings in shares of Conagra Brands by 23.9% during the first quarter. Old North State Trust LLC now owns 1,953 shares of the company’s stock worth $54,000 after buying an additional 377 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in shares of Conagra Brands by 4.1% during the first quarter. Eqis Capital Management Inc. now owns 9,947 shares of the company’s stock worth $276,000 after buying an additional 396 shares in the last quarter. O Shares Investment Advisers LLC grew its holdings in shares of Conagra Brands by 3.0% during the first quarter. O Shares Investment Advisers LLC now owns 13,974 shares of the company’s stock worth $388,000 after buying an additional 408 shares in the last quarter. Finally, MainStreet Investment Advisors LLC grew its holdings in shares of Conagra Brands by 2.2% during the first quarter. MainStreet Investment Advisors LLC now owns 19,336 shares of the company’s stock worth $536,000 after buying an additional 419 shares in the last quarter. 88.53% of the stock is owned by institutional investors and hedge funds.
Shares of CAG traded up $0.45 during trading hours on Thursday, hitting $27.97. The stock had a trading volume of 165,525 shares, compared to its average volume of 6,101,208. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.28 and a quick ratio of 0.54. The business’s 50-day moving average is $28.29. Conagra Brands has a fifty-two week low of $20.22 and a fifty-two week high of $38.43. The firm has a market cap of $13.42 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.87 and a beta of 0.85.
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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