We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Conagra Brands (CAG) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Conagra Brands (CAG - Free Report) closed the most recent trading day at $34.32, moving -0.17% from the previous trading session. This move lagged the S&P 500's daily gain of 0.93%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 1.71%.
Heading into today, shares of the company had lost 6.45% over the past month, lagging the Consumer Staples sector's loss of 4.15% and the S&P 500's gain of 4.61% in that time.
Conagra Brands will be looking to display strength as it nears its next earnings release, which is expected to be July 13, 2023. On that day, Conagra Brands is projected to report earnings of $0.61 per share, which would represent a year-over-year decline of 6.15%. Meanwhile, our latest consensus estimate is calling for revenue of $3.06 billion, up 5.1% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Conagra Brands. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.7% higher within the past month. Conagra Brands is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Conagra Brands is holding a Forward P/E ratio of 12.1. This valuation marks a discount compared to its industry's average Forward P/E of 18.11.
Meanwhile, CAG's PEG ratio is currently 1.9. 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. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.45 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Conagra Brands (CAG) Stock Sinks As Market Gains: What You Should Know
Conagra Brands (CAG - Free Report) closed the most recent trading day at $34.32, moving -0.17% from the previous trading session. This move lagged the S&P 500's daily gain of 0.93%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 1.71%.
Heading into today, shares of the company had lost 6.45% over the past month, lagging the Consumer Staples sector's loss of 4.15% and the S&P 500's gain of 4.61% in that time.
Conagra Brands will be looking to display strength as it nears its next earnings release, which is expected to be July 13, 2023. On that day, Conagra Brands is projected to report earnings of $0.61 per share, which would represent a year-over-year decline of 6.15%. Meanwhile, our latest consensus estimate is calling for revenue of $3.06 billion, up 5.1% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Conagra Brands. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.7% higher within the past month. Conagra Brands is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Conagra Brands is holding a Forward P/E ratio of 12.1. This valuation marks a discount compared to its industry's average Forward P/E of 18.11.
Meanwhile, CAG's PEG ratio is currently 1.9. 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. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.45 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.