Research Analysts Offer Predictions for Conagra Brands, Inc.’s FY2024 Earnings (NYSE:CAG)

Conagra Brands, Inc. (NYSE:CAG) – Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Conagra Brands in a research report issued to clients and investors on Thursday, April 18th. Zacks Research analyst V. Bagree now anticipates that the company will earn $2.62 per share for the year, up from their prior estimate of $2.60. The consensus estimate for Conagra Brands’ current full-year earnings is $2.62 per share. Zacks Research also issued estimates for Conagra Brands’ Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.68 EPS, FY2025 earnings at $2.68 EPS, Q1 2026 earnings at $0.68 EPS, Q2 2026 earnings at $0.72 EPS, Q3 2026 earnings at $0.70 EPS and FY2026 earnings at $2.80 EPS.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. Conagra Brands’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share.

A number of other equities analysts have also recently commented on CAG. Citigroup increased their target price on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Stifel Nicolaus increased their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Barclays increased their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada cut their price target on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, January 3rd. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $30.36 on Friday. The business has a 50 day simple moving average of $28.77 and a two-hundred day simple moving average of $28.48. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $38.73. The stock has a market capitalization of $14.51 billion, a P/E ratio of 15.26, a PEG ratio of 3.04 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.61%. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake in Conagra Brands by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 29,348 shares of the company’s stock worth $958,000 after acquiring an additional 310 shares during the last quarter. Equitable Holdings Inc. boosted its position in shares of Conagra Brands by 0.5% during the first quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock worth $2,722,000 after buying an additional 373 shares during the period. Laurel Wealth Advisors Inc. boosted its position in shares of Conagra Brands by 2.9% during the first quarter. Laurel Wealth Advisors Inc. now owns 13,726 shares of the company’s stock worth $461,000 after buying an additional 388 shares during the period. Czech National Bank boosted its position in shares of Conagra Brands by 0.5% during the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after buying an additional 392 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of Conagra Brands by 1.4% during the third quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock worth $781,000 after buying an additional 393 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.