Conagra Brands Inc. [NYSE:CAG] will report earnings after markets close on Thursday, January 7th.
CAG Earnings Forecast For The Current Quarter
Conagra Brands Inc. [CAG] is expected to report strong earnings results for the quarter ending on Nov 2020. Consensus estimates give the company expected revenues of $2.99B and an earnings per share of $0.73 for Nov 2020. Looking further ahead, the company is expected to report revenue of $2.67B at an EPS of $0.56 for Feb 2021. The estimates represent upside of -1.90% and 3.18% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CAG Earnings Estimates For The Current Year
For the financial year, Conagra Brands Inc. [NYSE:CAG] is expected to bring in revenue of $10.92B. The returns are nearly $-130.0 million lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 2.52, higher than that of FY20 by $0.24. Estimates put this year’s earnings growth at 10.50%, 2.80% for the next, and at an annual 6.99% over the next 5-year period. As for sales, forecasts are for a decrease of -1.20% in the current fiscal year and a further -1.90% over the following year.
CAG Price Performance
On Wall Street, Conagra Brands Inc. [NYSE:CAG] finished Tuesday’s session down -1.19% at $35.56. The stock went up to $35.77 at the same session while its lowest single day price was $35.25. In the last five days, it saw a fall of about -2.89%, Conagra Brands Inc. shares dropped by almost -1.93% since the beginning of the year. However, the share price has dropped to as low as -9.61% below its one year high. On 01/04/21, the company shares recorded $36.48, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $35.25. The company’s shares have inclined by 6.09% in the past year. The 50-day SMA achieved is $35.91 while the 200-day SMA is $35.14. Volume gained to 4.94 million from 4.34 million in the previous session.
Conagra Brands Inc. [CAG] Valuation Measures
Notably, Conagra Brands Inc. [CAG] stock can be classified as a good candidate in the listing of underestimated low-priced Packaged Foods companies to purchase soonest possible with the prevailing 12-month PE ratio of 17.47. The measure means the stock is exchanging at a discount as compared to the 20.05x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.53 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.06 which means CAG serve an attractive investment opportunity compared to its competitors.
CAG Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 35.28 level, and in case of violation of this particular level, it will cause more drop to 35.01 level. On the upper level, 36.05 is still the key resistance. The stock may increase to the subsequent resistance at 35.80. The Relative Strength Index (RSI) pinned on the 14-day chart is 43.89, implying a neutral technical stance while the MACD stands at -0.15, meaning price will decrease in the next trading period. Percent R indicator moved to 82.08%, implying bearish price movement. Stochastic %K at 39.80% suggest holding the stock.
Is Conagra Brands Inc. [NYSE:CAG] a Good Buy Right Now?
It should be noted that CAG technical indicators for short, intermediate as well as long term progress have placed an overall average of 16% as Sell. The average signal changed from 48% Buy in the last week and compares with 24% Sell in the past month. Data from Conagra Brands Inc.’s Trend Spotter indicated that the signals were Bearish. The stock current average is 2.84 million shares in the past 20 days and the short term average signal indicates a Hold. In the last 50 days, the average trading volume was 2.82 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at Hold and the 100-day average volume stands at 2.83 million shares.
What is the short interest in Conagra Brands Inc.?
Short interest in the Conagra Brands Inc. stock has plunged, decreasing by -0.53 million shares to total 8.89 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 8.36 million, data from Yahoo Finance shows. The increase of 5.96% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 2.42% of the overall float for the stock.
Conagra Brands Inc.’s Biggest Shareholders: Who Owns Conagra Brands Inc. [CAG]?
Filings by Capital Research & Management Co showed that the firm now holds a total of 57,144,527 shares or roughly 11.70% of the outstanding CAG shares. This means their shares have increased by 545,618 from the 57,144,527 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $1,949,106,865. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. disposed off their -2.42% stake valued at $876,875,440 while BlackRock Fund Advisors cut theirs at $831,696,567. During the last quarter, T. Rowe Price Associates, Inc. liquidated -594,125 of its shares in Conagra Brands Inc. while BlackRock Fund Advisors sold -91,679 shares. The SSgA Funds Management, Inc.’s holdings currently number 21,597,535 shares at $768008344.6. According to the firm’s last 13F report, Macquarie Investment Management B shares in the company at filing stood at 20,971,944 shares, roughly $766,734,273.
What are analyst thoughts on Conagra Brands Inc.?
Looking forward to the Conagra Brands Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Conagra Brands Inc. stock at $39.00 within the next 12 months, which represents almost 8.82 per cent growth from its previous closing price of $35.56. The highest analysts’ target for Conagra Brands Inc. stock projections is $44.00 and the lowest one is $34.00. Still, 19 analysts sharing their consensus rating for CAG stock in 2021 agree that it is an Overweight.