$2.66 Billion in Sales Expected for Conagra Brands Inc (CAG) This Quarter

Wall Street analysts expect Conagra Brands Inc (NYSE:CAG) to post $2.66 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Conagra Brands’ earnings. The highest sales estimate is $2.67 billion and the lowest is $2.65 billion. Conagra Brands posted sales of $1.97 billion during the same quarter last year, which suggests a positive year over year growth rate of 35%. The company is expected to announce its next quarterly earnings results on Wednesday, June 26th.

According to Zacks, analysts expect that Conagra Brands will report full year sales of $9.58 billion for the current financial year, with estimates ranging from $9.58 billion to $9.60 billion. For the next financial year, analysts forecast that the firm will report sales of $10.88 billion, with estimates ranging from $10.71 billion to $10.96 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Conagra Brands.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, March 21st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the company earned $0.61 earnings per share. Conagra Brands’s revenue was up 35.7% compared to the same quarter last year.

Several equities analysts have weighed in on CAG shares. Credit Suisse Group increased their price objective on Conagra Brands from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 10th. Jefferies Financial Group reissued a “buy” rating and set a $44.00 price objective on shares of Conagra Brands in a report on Wednesday, December 19th. Goldman Sachs Group lowered Conagra Brands from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Conagra Brands currently has an average rating of “Buy” and an average target price of $37.90.

In related news, Director Joie A. Gregor bought 10,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were purchased at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the transaction, the director now directly owns 145,440 shares in the company, valued at approximately $4,361,745.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.92% of the company’s stock.

Large investors have recently bought and sold shares of the business. Capital Investment Advisory Services LLC purchased a new stake in shares of Conagra Brands in the fourth quarter worth $26,000. Princeton Global Asset Management LLC purchased a new stake in shares of Conagra Brands in the fourth quarter worth $26,000. 1832 Asset Management L.P. purchased a new stake in shares of Conagra Brands in the fourth quarter worth $28,000. Kaizen Advisory LLC raised its position in shares of Conagra Brands by 47.3% in the fourth quarter. Kaizen Advisory LLC now owns 1,380 shares of the company’s stock worth $29,000 after buying an additional 443 shares in the last quarter. Finally, Timber Creek Capital Management LLC raised its position in shares of Conagra Brands by 143.1% in the fourth quarter. Timber Creek Capital Management LLC now owns 1,580 shares of the company’s stock worth $33,000 after buying an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

NYSE CAG traded up $0.40 on Friday, hitting $30.52. 3,615,752 shares of the stock traded hands, compared to its average volume of 8,170,527. Conagra Brands has a 12 month low of $20.22 and a 12 month high of $39.43. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 1.49.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.2125 per share. The ex-dividend date is Monday, April 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.79%. Conagra Brands’s dividend payout ratio is currently 40.28%.

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.

Further Reading: Coverage Ratio

Get a free copy of the Zacks research report on Conagra Brands (CAG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.