Wall Street analysts forecast that Conagra Brands (CAG) will report quarterly earnings of $0.52 per share in its upcoming release, pointing to a year-over-year decline of 24.6%. It is anticipated that revenues will amount to $2.89 billion, exhibiting a decline of 4.7% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 2.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Conagra Brands metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Sales- Grocery & Snacks' should come in at $1.29 billion. The estimate indicates a change of +0.1% from the prior-year quarter.
Analysts forecast 'Sales- Foodservice' to reach $273.70 million. The estimate indicates a year-over-year change of +0.3%.
The combined assessment of analysts suggests that 'Sales- International' will likely reach $242.41 million. The estimate suggests a change of -10.8% year over year.
It is projected by analysts that the 'Sales- Refrigerated & Frozen' will reach $1.14 billion. The estimate points to a change of -5.2% from the year-ago quarter.
The consensus among analysts is that 'Price/Mix - Grocery and Snacks' will reach -1.3%. Compared to the present estimate, the company reported 4.2% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Price/Mix - Foodservice' of 2.4%. Compared to the present estimate, the company reported 3.8% in the same quarter last year.
Analysts' assessment points toward 'Organic net sales growth - Grocery and Snacks' reaching -0.9%. The estimate is in contrast to the year-ago figure of 3.4%.
The average prediction of analysts places 'Net Sales growth - Grocery & Snacks' at 0.2%. Compared to the current estimate, the company reported 3.4% in the same quarter of the previous year.
Analysts expect 'Net Sales growth - International' to come in at -11.7%. Compared to the present estimate, the company reported 4.6% in the same quarter last year.
The consensus estimate for 'Adjusted Operating Profit (loss)- Grocery & Snacks' stands at $266.42 million. The estimate is in contrast to the year-ago figure of $299.50 million.
Analysts predict that the 'Adjusted Operating Profit (loss)- Refrigerated & Frozen' will reach $139.12 million. Compared to the present estimate, the company reported $202.60 million in the same quarter last year.
Based on the collective assessment of analysts, 'Adjusted Operating Profit (loss)- Foodservice' should arrive at $34.45 million. The estimate is in contrast to the year-ago figure of $35.40 million.
View all Key Company Metrics for Conagra Brands here>>>
Over the past month, shares of Conagra Brands have returned +4% versus the Zacks S&P 500 composite's -6.2% change. Currently, CAG carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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