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Conagra Brands, Inc. (CAG - Free Report) has carved a name for itself in the processed & packaging food industry with superior processed food items for household and commercial clients. The product portfolio of this Omaha, NE-headquartered firm includes leading consumer brands that are found in 99% of America’s households.
However, this largest packaged food business of North America faces price volatility for raw materials much like its industry peers. As the extent of industry competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.
Currently, CAG has a Zacks Rank #2 (Buy), but that could definitely change after the release of its upcoming earnings report.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: CAG’s earnings from continuing operations, adjusted for items impacting comparability, in third-quarter fiscal 2017, came in at 48 cents, above with the Zacks Consensus Estimate of 45 cents.
Revenue: CAG posted revenues of $1,981.2 million, below the Zacks Consensus Estimate of $1,985 million.
Key Stats: CAG anticipates to report adjusted earnings at or marginally higher than the high-end of $1.65–$1.70 per share range for fiscal 2017. Net sales for the fiscal will likely lie within or slightly at the low-end of the range of down 4–5%.
Stock Price: At the time of writing, the stock price of CAG was down nearly 0.67% ($0.27) in the pre-market trade on Nasdaq. Clearly the initial reaction to the release is not optimistic. We view the company’s weaker top-line performance in third-quarter fiscal 2017 result as the primary reason responsible for this negative sentiment.
As of Mar 22, 2017, CAG’s closed the trading session at $40.48 per share.
Check back our full write up on this CAG earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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Conagra (CAG) Beats on Q3 Earnings, Lags Revenues
Conagra Brands, Inc. (CAG - Free Report) has carved a name for itself in the processed & packaging food industry with superior processed food items for household and commercial clients. The product portfolio of this Omaha, NE-headquartered firm includes leading consumer brands that are found in 99% of America’s households.
However, this largest packaged food business of North America faces price volatility for raw materials much like its industry peers. As the extent of industry competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.
Currently, CAG has a Zacks Rank #2 (Buy), but that could definitely change after the release of its upcoming earnings report.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: CAG’s earnings from continuing operations, adjusted for items impacting comparability, in third-quarter fiscal 2017, came in at 48 cents, above with the Zacks Consensus Estimate of 45 cents.
Revenue: CAG posted revenues of $1,981.2 million, below the Zacks Consensus Estimate of $1,985 million.
Key Stats: CAG anticipates to report adjusted earnings at or marginally higher than the high-end of $1.65–$1.70 per share range for fiscal 2017. Net sales for the fiscal will likely lie within or slightly at the low-end of the range of down 4–5%.
Stock Price: At the time of writing, the stock price of CAG was down nearly 0.67% ($0.27) in the pre-market trade on Nasdaq. Clearly the initial reaction to the release is not optimistic. We view the company’s weaker top-line performance in third-quarter fiscal 2017 result as the primary reason responsible for this negative sentiment.
ConAgra Foods Inc. Price
ConAgra Foods Inc. Price | ConAgra Foods Inc. Quote
As of Mar 22, 2017, CAG’s closed the trading session at $40.48 per share.
Check back our full write up on this CAG earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere
1 billion iPhones in 10 years but a new breakthrough is expected to generate more
than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may
kick yourself in 2020. Click here for the 6 trades >>