$0.51 EPS Expected for Conagra Brands Inc (CAG) This Quarter

Wall Street brokerages expect Conagra Brands Inc (NYSE:CAG) to announce $0.51 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Conagra Brands’ earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.56. Conagra Brands reported earnings of $0.48 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The business is expected to announce its next quarterly earnings report on Thursday, March 22nd.

On average, analysts expect that Conagra Brands will report full-year earnings of $1.92 per share for the current year, with EPS estimates ranging from $1.86 to $2.02. For the next financial year, analysts forecast that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $2.05 to $2.25. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Conagra Brands.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, December 21st. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business earned $0.49 EPS. Conagra Brands’s revenue for the quarter was up 4.1% compared to the same quarter last year.

Several brokerages recently commented on CAG. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, November 22nd. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $38.00 in a research note on Sunday, October 29th. They noted that the move was a valuation call. UBS Group upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, December 12th. Sanford C. Bernstein upgraded shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the stock a “hold” rating in a research note on Monday, December 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.00.

In other Conagra Brands news, Director Joie A. Gregor sold 5,250 shares of Conagra Brands stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $38.04, for a total value of $199,710.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert G. Wise sold 23,170 shares of Conagra Brands stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $37.87, for a total transaction of $877,447.90. Following the completion of the transaction, the senior vice president now owns 51,859 shares in the company, valued at $1,963,900.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,121 shares of company stock worth $5,793,780. 0.79% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vantage Investment Advisors LLC increased its stake in Conagra Brands by 625.7% in the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after purchasing an additional 2,578 shares during the period. NuWave Investment Management LLC acquired a new position in shares of Conagra Brands during the fourth quarter worth about $114,000. Meeder Asset Management Inc. acquired a new position in shares of Conagra Brands during the fourth quarter worth about $161,000. Krilogy Financial LLC increased its stake in shares of Conagra Brands by 7.7% during the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after acquiring an additional 370 shares during the period. Finally, Strategic Financial Services Inc acquired a new position in shares of Conagra Brands during the fourth quarter worth about $203,000. Institutional investors own 79.77% of the company’s stock.

Shares of Conagra Brands (NYSE:CAG) traded up $0.07 during trading hours on Friday, reaching $35.56. 6,282,399 shares of the company traded hands, compared to its average volume of 3,340,000. Conagra Brands has a 12-month low of $32.16 and a 12-month high of $41.68. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.11 and a quick ratio of 0.54. The firm has a market cap of $14,250.00, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.35 and a beta of 0.27.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, January 30th will be paid a $0.213 dividend. The ex-dividend date of this dividend is Monday, January 29th. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a yield of 2.40%. Conagra Brands’s payout ratio is currently 50.60%.

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Conagra Brands Company Profile

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.

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Earnings History and Estimates for Conagra Brands (NYSE:CAG)

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