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Conagra Brands (CAG) Outpaces Stock Market Gains: What You Should Know
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Conagra Brands (CAG - Free Report) closed at $35.90 in the latest trading session, marking a +0.2% move from the prior day. This change outpaced the S&P 500's 0.14% gain on the day. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Prior to today's trading, shares of the company had lost 1.19% over the past month. This has lagged the Consumer Staples sector's loss of 0.97% and was narrower than the S&P 500's loss of 4.07% in that time.
Conagra Brands will be looking to display strength as it nears its next earnings release, which is expected to be April 5, 2023. The company is expected to report EPS of $0.64, up 10.34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.09 billion, up 6.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.66 per share and revenue of $12.36 billion, which would represent changes of +12.71% and +7.18%, respectively, from the prior year.
Any recent changes to analyst estimates for Conagra Brands should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% lower. Conagra Brands currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Conagra Brands is currently trading at a Forward P/E ratio of 13.48. This valuation marks a discount compared to its industry's average Forward P/E of 18.
Investors should also note that CAG has a PEG ratio of 2.16 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CAG's industry had an average PEG ratio of 2.59 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAG in the coming trading sessions, be sure to utilize Zacks.com.
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Conagra Brands (CAG) Outpaces Stock Market Gains: What You Should Know
Conagra Brands (CAG - Free Report) closed at $35.90 in the latest trading session, marking a +0.2% move from the prior day. This change outpaced the S&P 500's 0.14% gain on the day. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Prior to today's trading, shares of the company had lost 1.19% over the past month. This has lagged the Consumer Staples sector's loss of 0.97% and was narrower than the S&P 500's loss of 4.07% in that time.
Conagra Brands will be looking to display strength as it nears its next earnings release, which is expected to be April 5, 2023. The company is expected to report EPS of $0.64, up 10.34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.09 billion, up 6.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.66 per share and revenue of $12.36 billion, which would represent changes of +12.71% and +7.18%, respectively, from the prior year.
Any recent changes to analyst estimates for Conagra Brands should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% lower. Conagra Brands currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Conagra Brands is currently trading at a Forward P/E ratio of 13.48. This valuation marks a discount compared to its industry's average Forward P/E of 18.
Investors should also note that CAG has a PEG ratio of 2.16 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CAG's industry had an average PEG ratio of 2.59 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAG in the coming trading sessions, be sure to utilize Zacks.com.