What Analyst Projections for Key Metrics Reveal About Conagra Brands (CAG) Q2 Earnings
In its upcoming report, Conagra Brands (CAG) is predicted by Wall Street analysts to post quarterly earnings of $0.67 per share, reflecting a decline of 17.3% compared to the same period last year. Revenues are forecasted to be $3.24 billion, representing a year-over-year decrease of 2.2%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Conagra Brands metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts predict that the 'Sales- Grocery & Snacks' will reach $1.34 billion. The estimate points to a change of -0.6% from the year-ago quarter.
Analysts' assessment points toward 'Sales- Foodservice' reaching $288.98 million. The estimate indicates a year-over-year change of +2.2%.
The consensus among analysts is that 'Sales- International' will reach $266.70 million. The estimate points to a change of +3.1% from the year-ago quarter.
The combined assessment of analysts suggests that 'Sales- Refrigerated & Frozen' will likely reach $1.35 billion. The estimate indicates a year-over-year change of -5.2%.
It is projected by analysts that the 'Net sales growth - Total Sales' will reach -2.3%. The estimate compares to the year-ago value of 8.3%.
The average prediction of analysts places 'Net sales growth - Foodservice' at 2.2%. The estimate compares to the year-ago value of 14.8%.
The consensus estimate for 'Net sales growth - Grocery & Snacks' stands at -0.6%. Compared to the current estimate, the company reported 6.8% in the same quarter of the previous year.
Analysts expect 'Net sales growth - Refrigerated & Frozen' to come in at -5.3%. Compared to the present estimate, the company reported 10.5% in the same quarter last year.
According to the collective judgment of analysts, 'Price/Mix - Foodservice' should come in at 5.1%. The estimate is in contrast to the year-ago figure of 18.2%.
Analysts forecast 'Price/Mix - International' to reach 1.7%. The estimate is in contrast to the year-ago figure of 12.8%.
Based on the collective assessment of analysts, 'Price/Mix - Consolidated' should arrive at 1.4%. The estimate is in contrast to the year-ago figure of 17%.
The collective assessment of analysts points to an estimated 'Price/Mix - Grocery and Snacks' of 1.4%. Compared to the current estimate, the company reported 18.4% in the same quarter of the previous year.
View all Key Company Metrics for Conagra Brands here>>>
Over the past month, Conagra Brands shares have recorded returns of +1% versus the Zacks S&P 500 composite's +5.3% change. Based on its Zacks Rank #4 (Sell), CAG will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Conagra Brands (CAG) : Free Stock Analysis Report
