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Conagra Brands (CAG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Conagra Brands (CAG - Free Report) closed at $29.61, marking a -0.5% move from the previous day. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.54%, and the Nasdaq, a tech-heavy index, added 1.59%.
Heading into today, shares of the company had lost 10.71% over the past month, lagging the Consumer Staples sector's loss of 4.5% and the S&P 500's loss of 3.13% in that time.
Investors will be hoping for strength from Conagra Brands as it approaches its next earnings release. In that report, analysts expect Conagra Brands to post earnings of $0.60 per share. This would mark year-over-year growth of 5.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.96 billion, up 2.02% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.72 per share and revenue of $12.41 billion. These totals would mark changes of -1.81% and +1.05%, respectively, from last year.
Any recent changes to analyst estimates for Conagra Brands should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.22% lower within the past month. Conagra Brands currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Conagra Brands is holding a Forward P/E ratio of 10.93. This represents a discount compared to its industry's average Forward P/E of 15.8.
Also, we should mention that CAG has a PEG ratio of 2.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Food - Miscellaneous was holding an average PEG ratio of 2.54 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Conagra Brands (CAG - Free Report) closed at $29.61, marking a -0.5% move from the previous day. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.54%, and the Nasdaq, a tech-heavy index, added 1.59%.
Heading into today, shares of the company had lost 10.71% over the past month, lagging the Consumer Staples sector's loss of 4.5% and the S&P 500's loss of 3.13% in that time.
Investors will be hoping for strength from Conagra Brands as it approaches its next earnings release. In that report, analysts expect Conagra Brands to post earnings of $0.60 per share. This would mark year-over-year growth of 5.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.96 billion, up 2.02% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.72 per share and revenue of $12.41 billion. These totals would mark changes of -1.81% and +1.05%, respectively, from last year.
Any recent changes to analyst estimates for Conagra Brands should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.22% lower within the past month. Conagra Brands currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Conagra Brands is holding a Forward P/E ratio of 10.93. This represents a discount compared to its industry's average Forward P/E of 15.8.
Also, we should mention that CAG has a PEG ratio of 2.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Food - Miscellaneous was holding an average PEG ratio of 2.54 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.