Top Stock Picks for Week of January 9, 2023
Conagra Brands, Inc. CAG is one of the leading branded food company of North America.Shares of have outperformed the industry in the past six months. The company has been gaining from its robust pricing actions, which aided the top line in the second quarter of fiscal 2023. During the quarter, earnings and sales grew year over year and beat the Zacks Consensus Estimate. Results reflect strength in the company’s brands and ongoing execution of the Conagra Way playbook. The company delivered improved service levels and productivity, which along with its efforts to combat inflation, helped it sail through the inflationary pressures and industry-wide supply chain hurdles. Conagra expects gross inflation to moderate through the remaining part of fiscal 2023. Encouragingly, management raised its fiscal 2023 guidance for organic sales and adjusted earnings per share based on a robust first-half show and sustained business momentum.
Penumbra, Inc. PEN is an interventional therapies company. It designs, develops, manufactures and markets medical devices. Penumbra came out with quarterly earnings beating the Zacks Consensus Estimate recently. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Penumbra, which belongs to the Zacks Medical - Instruments industry, posted revenues for the quarter ended September 2022, also surpassing the Zacks Consensus Estimate. The company has topped consensus revenue estimates four times over the last four quarters.
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
Penumbra, Inc. (PEN) : Free Stock Analysis Report
