Wall Street brokerages expect Conagra Brands Inc (NYSE:CAG) to announce earnings of $0.43 per share for the current quarter, according to Zacks. Four analysts have made estimates for Conagra Brands’ earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.44. Conagra Brands posted earnings of $0.37 per share during the same quarter last year, which indicates a positive year over year growth rate of 16.2%. The business is scheduled to issue its next earnings report on Thursday, July 5th.
According to Zacks, analysts expect that Conagra Brands will report full-year earnings of $2.05 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.05. For the next year, analysts expect that the business will post earnings of $2.31 per share, with EPS estimates ranging from $2.26 to $2.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Conagra Brands.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Thursday. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price target on shares of Conagra Brands in a research report on Friday, March 23rd. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, March 23rd. UBS raised their price target on shares of Conagra Brands from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, March 23rd. Finally, Jefferies Group restated a “buy” rating and issued a $44.00 price target on shares of Conagra Brands in a research report on Thursday, March 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.78.
Shares of Conagra Brands stock traded up $0.35 during trading hours on Tuesday, reaching $37.41. The company’s stock had a trading volume of 1,626,141 shares, compared to its average volume of 2,839,183. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.03. Conagra Brands has a one year low of $32.16 and a one year high of $40.24. The company has a market cap of $14.99 billion, a P/E ratio of 21.50, a PEG ratio of 2.28 and a beta of 0.28.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Monday, April 30th will be issued a $0.2125 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.27%. Conagra Brands’s dividend payout ratio (DPR) is presently 48.85%.
In related news, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $35.86, for a total value of $216,809.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen G. Butler sold 12,092 shares of the stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $37.18, for a total transaction of $449,580.56. Following the completion of the sale, the director now directly owns 127,755 shares in the company, valued at approximately $4,749,930.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,046 shares of company stock worth $885,695. Corporate insiders own 0.79% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA increased its stake in Conagra Brands by 421.0% during the 4th quarter. Glenmede Trust Co. NA now owns 37,296 shares of the company’s stock valued at $1,404,000 after buying an additional 30,137 shares during the period. Barings LLC increased its stake in Conagra Brands by 176.9% during the 4th quarter. Barings LLC now owns 62,608 shares of the company’s stock valued at $2,358,000 after buying an additional 40,000 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Conagra Brands by 1.5% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 184,373 shares of the company’s stock valued at $6,944,000 after buying an additional 2,778 shares during the period. Check Capital Management Inc. CA acquired a new position in Conagra Brands during the 4th quarter valued at about $256,000. Finally, Iberiabank Corp acquired a new position in Conagra Brands during the 4th quarter valued at about $207,000. 76.71% of the stock is currently owned by hedge funds and other institutional investors.
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.
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
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.