In its upcoming report, Conagra Brands (CAG) is predicted by Wall Street analysts to post quarterly earnings of $0.59 per share, reflecting a decline of 3.3% compared to the same period last year. Revenues are forecasted to be $2.85 billion, representing a year-over-year decrease of 1.8%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
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 investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Conagra Brands metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Sales- Grocery & Snacks' to come in at $1.18 billion. The estimate indicates a change of +0.7% from the prior-year quarter.
Analysts forecast 'Sales- Foodservice' to reach $282.84 million. The estimate indicates a change of -2.9% from the prior-year quarter.
The consensus among analysts is that 'Sales- International' will reach $228.22 million. The estimate suggests a change of -14.5% year over year.
Analysts predict that the 'Sales- Refrigerated & Frozen' will reach $1.16 billion. The estimate suggests a change of -1.3% year over year.
The collective assessment of analysts points to an estimated 'Net Sales growth - International' of -14.4%. The estimate compares to the year-ago value of 6.4%.
Analysts' assessment points toward 'Price/Mix - Foodservice' reaching 2.3%. Compared to the present estimate, the company reported 6.4% in the same quarter last year.
The average prediction of analysts places 'Volume (Organic) - International' at -3.8%. The estimate compares to the year-ago value of 4.1%.
The combined assessment of analysts suggests that 'Organic net sales growth - International' will likely reach -1.3%. The estimate is in contrast to the year-ago figure of 4.3%.
Based on the collective assessment of analysts, 'Adjusted Operating Profit (loss)- Grocery & Snacks' should arrive at $256.07 million. The estimate is in contrast to the year-ago figure of $255.40 million.
It is projected by analysts that the 'Adjusted Operating Profit (loss)- Refrigerated & Frozen' will reach $171.73 million. Compared to the current estimate, the company reported $189.70 million in the same quarter of the previous year.
The consensus estimate for 'Adjusted Operating Profit (loss)- Foodservice' stands at $38.03 million. The estimate is in contrast to the year-ago figure of $39.70 million.
According to the collective judgment of analysts, 'Adjusted Operating Profit (loss)- International' should come in at $29.74 million. Compared to the current estimate, the company reported $28.90 million in the same quarter of the previous year.
View all Key Company Metrics for Conagra Brands here>>>
Over the past month, shares of Conagra Brands have returned -5.7% versus the Zacks S&P 500 composite's +5.2% change. Currently, CAG carries a Zacks Rank #5 (Strong 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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Conagra Brands (CAG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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