Conagra Brands (CAG) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Conagra Brands (CAG) reached $27.97, with a -0.14% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.17%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw an increase of 0.37%.
The the stock of company has fallen by 4.08% in the past month, lagging the Consumer Staples sector's gain of 1.61% and the S&P 500's gain of 3.8%.
Investors will be eagerly watching for the performance of Conagra Brands in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.63, marking a 17.11% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $3.02 billion, indicating a 2.3% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.59 per share and revenue of $12.09 billion, which would represent changes of -6.5% and -1.51%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Conagra Brands. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Conagra Brands currently has a Zacks Rank of #4 (Sell).
Looking at valuation, Conagra Brands is presently trading at a Forward P/E ratio of 10.8. This indicates a discount in contrast to its industry's Forward P/E of 17.19.
Investors should also note that CAG has a PEG ratio of 2.98 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Food - Miscellaneous industry had an average PEG ratio of 2.07 as trading concluded yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAG in the coming trading sessions, be sure to utilize Zacks.com.
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Conagra Brands (CAG) : Free Stock Analysis Report
