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Conagra Brands (CAG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Conagra Brands (CAG - Free Report) closed at $34.64, marking a -0.43% move from the previous day. This move lagged the S&P 500's daily loss of 0.37%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 1.18%.
Coming into today, shares of the company had lost 2.82% in the past month. In that same time, the Consumer Staples sector lost 2.23%, while the S&P 500 gained 7.18%.
Investors will be hoping for strength from Conagra Brands as it approaches its next earnings release, which is expected to be July 13, 2023. In that report, analysts expect Conagra Brands to post earnings of $0.61 per share. This would mark 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.
It is also important to note the recent changes to analyst estimates for Conagra Brands. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 0.3% higher. Conagra Brands currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Conagra Brands is holding a Forward P/E ratio of 12.24. Its industry sports an average Forward P/E of 16.09, so we one might conclude that Conagra Brands is trading at a discount comparatively.
Investors should also note that CAG has a PEG ratio of 1.93 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Miscellaneous was holding an average PEG ratio of 2.4 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Conagra Brands (CAG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Conagra Brands (CAG - Free Report) closed at $34.64, marking a -0.43% move from the previous day. This move lagged the S&P 500's daily loss of 0.37%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 1.18%.
Coming into today, shares of the company had lost 2.82% in the past month. In that same time, the Consumer Staples sector lost 2.23%, while the S&P 500 gained 7.18%.
Investors will be hoping for strength from Conagra Brands as it approaches its next earnings release, which is expected to be July 13, 2023. In that report, analysts expect Conagra Brands to post earnings of $0.61 per share. This would mark 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.
It is also important to note the recent changes to analyst estimates for Conagra Brands. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 0.3% higher. Conagra Brands currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Conagra Brands is holding a Forward P/E ratio of 12.24. Its industry sports an average Forward P/E of 16.09, so we one might conclude that Conagra Brands is trading at a discount comparatively.
Investors should also note that CAG has a PEG ratio of 1.93 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Miscellaneous was holding an average PEG ratio of 2.4 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.