Wall Street analysts expect Conagra Brands (CAG) to post quarterly earnings of $0.46 per share in its upcoming report, which indicates a year-over-year decline of 17.9%. Revenues are expected to be $2.88 billion, up 3.4% from the year-ago quarter.
The current level reflects an upward revision of 0.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over 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 typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Conagra Brands metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Sales- Grocery & Snacks' stands at $1.15 billion. The estimate indicates a year-over-year change of -0.2%.
The average prediction of analysts places 'Sales- Foodservice' at $306.25 million. The estimate points to a change of +9.5% from the year-ago quarter.
According to the collective judgment of analysts, 'Sales- International' should come in at $233.68 million. The estimate suggests a change of +1.6% year over year.
Analysts predict that the 'Sales- Refrigerated & Frozen' will reach $1.19 billion. The estimate suggests a change of +5.7% year over year.
Analysts expect 'Price/Mix - Foodservice' to come in at 3.2%. The estimate is in contrast to the year-ago figure of 3.3%.
Analysts forecast 'Price/Mix - International' to reach 0.8%. Compared to the current estimate, the company reported 4.7% in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Adjusted Operating Profit (loss)- Grocery & Snacks' should arrive at $215.69 million. Compared to the present estimate, the company reported $225.60 million in the same quarter last year.
The combined assessment of analysts suggests that 'Adjusted Operating Profit (loss)- Refrigerated & Frozen' will likely reach $160.38 million. The estimate is in contrast to the year-ago figure of $170.50 million.
The consensus among analysts is that 'Adjusted Operating Profit (loss)- Foodservice' will reach $33.29 million. The estimate is in contrast to the year-ago figure of $31.50 million.
Analysts' assessment points toward 'Adjusted Operating Profit (loss)- International' reaching $31.06 million. Compared to the present estimate, the company reported $35.30 million in the same quarter last year.
View all Key Company Metrics for Conagra Brands here>>>Conagra Brands shares have witnessed a change of -0.6% in the past month, in contrast to the Zacks S&P 500 composite's +2.2% move. With a Zacks Rank #4 (Sell), CAG is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Conagra Brands (CAG): Free Stock Analysis Report
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