Conagra Brands (CAG) to Release Earnings on Thursday

Conagra Brands (NYSE:CAG) will post its quarterly earnings results before the market opens on Thursday, April 4th. Analysts expect Conagra Brands to post earnings of $0.63 per share for the quarter. Conagra Brands has set its FY 2024 guidance at 2.600-2.650 EPS and its FY24 guidance at $2.60-2.65 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, January 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.23 billion. Conagra Brands had a return on equity of 14.78% and a net margin of 8.09%. Conagra Brands’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. On average, analysts expect Conagra Brands to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Conagra Brands Trading Up 2.0 %

Shares of Conagra Brands stock opened at $29.49 on Thursday. The firm’s 50-day moving average price is $28.42 and its two-hundred day moving average price is $28.30. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 3.09 and a beta of 0.42. The company has a quick ratio of 0.31, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $38.94.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Citigroup started coverage on shares of Conagra Brands in a research note on Thursday, February 1st. They set a “neutral” rating and a $30.00 target price on the stock. Evercore ISI downgraded shares of Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price target for the company. in a report on Monday, December 11th. Finally, Wells Fargo & Company began coverage on Conagra Brands in a report on Tuesday, December 12th. They set an “equal weight” rating and a $31.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.87.

Institutional Investors Weigh In On Conagra Brands

Large investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Conagra Brands by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,185 shares of the company’s stock worth $2,155,000 after purchasing an additional 3,975 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Conagra Brands by 0.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 309,389 shares of the company’s stock worth $10,942,000 after buying an additional 1,186 shares during the period. Synovus Financial Corp increased its stake in shares of Conagra Brands by 3.7% in the 1st quarter. Synovus Financial Corp now owns 22,548 shares of the company’s stock valued at $758,000 after acquiring an additional 807 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Conagra Brands by 19.8% during the 1st quarter. Blair William & Co. IL now owns 27,151 shares of the company’s stock valued at $911,000 after acquiring an additional 4,487 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Conagra Brands by 509.0% during the first quarter. Allianz Asset Management GmbH now owns 366,225 shares of the company’s stock worth $12,294,000 after acquiring an additional 306,086 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.