Research Analysts Offer Predictions for Conagra Brands, Inc.’s FY2024 Earnings (NYSE:CAG)

Conagra Brands, Inc. (NYSE:CAG) – Equities researchers at Zacks Research increased their FY2024 earnings estimates for Conagra Brands in a research report issued to clients and investors on Thursday, April 18th. Zacks Research analyst V. Bagree now expects that the company will post earnings per share of $2.62 for the year, up from their previous estimate of $2.60. The consensus estimate for Conagra Brands’ current full-year earnings is $2.62 per share. Zacks Research also issued estimates for Conagra Brands’ Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.68 EPS, FY2025 earnings at $2.68 EPS, Q1 2026 earnings at $0.68 EPS, Q2 2026 earnings at $0.72 EPS, Q3 2026 earnings at $0.70 EPS and FY2026 earnings at $2.80 EPS.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. Conagra Brands’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share.

Several other equities research analysts have also weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Citigroup raised their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Wells Fargo & Company raised their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Finally, Barclays raised their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and an average price target of $33.14.

Conagra Brands Price Performance

CAG opened at $30.36 on Friday. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 3.04 and a beta of 0.42. Conagra Brands has a fifty-two week low of $25.16 and a fifty-two week high of $38.73. The company’s 50-day moving average price is $28.77 and its 200 day moving average price is $28.48. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

Institutional Trading of Conagra Brands

A number of large investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its holdings in Conagra Brands by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 29,348 shares of the company’s stock worth $958,000 after buying an additional 310 shares in the last quarter. Equitable Holdings Inc. boosted its stake in Conagra Brands by 0.5% in the 1st quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock worth $2,722,000 after purchasing an additional 373 shares during the period. Laurel Wealth Advisors Inc. boosted its stake in Conagra Brands by 2.9% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 13,726 shares of the company’s stock worth $461,000 after purchasing an additional 388 shares during the period. Czech National Bank boosted its stake in Conagra Brands by 0.5% in the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after purchasing an additional 392 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in Conagra Brands by 1.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock worth $781,000 after purchasing an additional 393 shares during the period. 83.75% of the stock is currently owned by institutional investors.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.