Conagra Brands Inc (CAG) Expected to Announce Quarterly Sales of $2.66 Billion

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

On average, analysts expect that Conagra Brands will report full year sales of $9.58 billion for the current year, with estimates ranging from $9.58 billion to $9.60 billion. For the next financial year, analysts anticipate that the company will report sales of $10.88 billion, with estimates ranging from $10.71 billion to $10.96 billion. Zacks’ sales averages are a mean 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Conagra Brands had a net margin of 6.99% and a return on equity of 16.40%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the firm posted $0.61 EPS. The company’s revenue was up 35.7% on a year-over-year basis.

A number of research firms recently weighed in on CAG. Bank of America set a $30.00 target price on shares of Conagra Brands and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays reissued a “buy” rating and issued a $30.00 target price on shares of Conagra Brands in a report on Sunday, December 23rd. Credit Suisse Group set a $39.00 target price on shares of Conagra Brands and gave the company a “hold” rating in a report on Thursday, December 20th. Zacks Investment Research lowered shares of Conagra Brands from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, Goldman Sachs Group set a $32.00 price target on Conagra Brands and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Conagra Brands currently has a consensus rating of “Buy” and an average target price of $37.90.

Shares of CAG stock traded up $0.01 on Friday, reaching $30.09. The company’s stock had a trading volume of 3,399,277 shares, compared to its average volume of 8,274,449. Conagra Brands has a 1 year low of $20.22 and a 1 year high of $39.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.58 and a current ratio of 1.31. The firm has a market cap of $14.62 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, April 30th will be given a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.82%. Conagra Brands’s dividend payout ratio is presently 40.28%.

Several large investors have recently added to or reduced their stakes in the company. Home Federal Bank of Tennessee lifted its position in shares of Conagra Brands by 5.0% during the first quarter. Home Federal Bank of Tennessee now owns 9,845 shares of the company’s stock worth $273,000 after purchasing an additional 465 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Conagra Brands by 3,494.9% in the first quarter. Flagship Harbor Advisors LLC now owns 9,131 shares of the company’s stock valued at $253,000 after acquiring an additional 8,877 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Conagra Brands by 1.3% in the first quarter. Retirement Systems of Alabama now owns 226,121 shares of the company’s stock valued at $6,273,000 after acquiring an additional 2,845 shares in the last quarter. American National Bank bought a new stake in shares of Conagra Brands in the first quarter valued at about $328,000. Finally, Landsberg Bennett & Dubbaneh LLC bought a new stake in shares of Conagra Brands in the first quarter valued at about $799,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

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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