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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 the most recent trading day at $33.31, moving +0.79% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Coming into today, shares of the company had lost 5.22% in the past month. In that same time, the Consumer Staples sector gained 1.27%, while the S&P 500 gained 4.25%.
Wall Street will be looking for positivity from Conagra Brands as it approaches its next earnings report date. This 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, the Zacks Consensus Estimate for revenue is projecting net sales of $3.05 billion, up 4.93% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Conagra Brands. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Conagra Brands is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Conagra Brands currently has a Forward P/E ratio of 11.64. Its industry sports an average Forward P/E of 17.14, so we one might conclude that Conagra Brands is trading at a discount comparatively.
We can also see that CAG currently has a PEG ratio of 1.83. 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 2.73 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Conagra Brands (CAG) Outpaces Stock Market Gains: What You Should Know
Conagra Brands (CAG - Free Report) closed the most recent trading day at $33.31, moving +0.79% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Coming into today, shares of the company had lost 5.22% in the past month. In that same time, the Consumer Staples sector gained 1.27%, while the S&P 500 gained 4.25%.
Wall Street will be looking for positivity from Conagra Brands as it approaches its next earnings report date. This 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, the Zacks Consensus Estimate for revenue is projecting net sales of $3.05 billion, up 4.93% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Conagra Brands. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Conagra Brands is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Conagra Brands currently has a Forward P/E ratio of 11.64. Its industry sports an average Forward P/E of 17.14, so we one might conclude that Conagra Brands is trading at a discount comparatively.
We can also see that CAG currently has a PEG ratio of 1.83. 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 2.73 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.