Conagra Brands Inc (NYSE:CAG) shares, rose in value, with the stock price up by 1.47% to the previous day’s close as strong demand from buyers drove the stock to $31.09.
Actively observing the price movement in the last trading, the stock closed the session at $30.64. The value of beta (5-year monthly) was 0.39 whereas the PE ratio was 15.67 over 12-month period. Referring to stock’s 52-week performance, its high was $38.94, and the low was $25.16. On the whole, CAG has fluctuated by 11.23% over the past month.
With the market capitalization of Conagra Brands Inc currently standing at about $14.86 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 04, 2024. The company’s Forward Dividend Ratio is 1.38, with its dividend yield at 4.44%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.58, which is expected to increase to $0.75 for fiscal year $2.6 and then to about $2.69 by fiscal year 2025. Data indicates that the EPS growth is expected to be -6.10% in 2025, while the next year’s EPS growth is forecast to be 3.50%.
Analysts have estimated the company’s revenue for the quarter at $2.95 billion, with a low estimate of $2.92 billion and a high estimate of $3 billion. According to the average forecast, sales growth in current quarter could jump down -0.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $12.08 billion, representing a decrease of -1.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CAG’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 37.58, with the price of CAG currently trading nearly 7.74% and 8.95% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 73.10, while the 7-day volatility ratio is showing 2.25% which for the 30-day chart, stands at 1.76%. Furthermore, Conagra Brands Inc (CAG)’s beta value is 0.38, and its average true range (ATR) is 0.62.
A comparison of Conagra Brands Inc (CAG) with its peers suggests the former has fared considerably weaker in the market. CAG showed an intraday change of 1.47% in last session, and over the past year, it shrunk by -17.27%%.
Data on historical trading for Conagra Brands Inc (NYSE:CAG) indicates that the trading volumes over the past 10 days have averaged 5.47 million and over the past 3 months, they’ve averaged 4.92 million. According to company’s latest data on outstanding shares, there are 477.02 million shares outstanding.
Nearly 0.49% of Conagra Brands Inc’s shares belong to company insiders and institutional investors own 85.91% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.33 million shares as on Mar 15, 2024, resulting in a short ratio of 2.24. According to the data, the short interest in Conagra Brands Inc (CAG) stood at 1.95% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.39 million. The stock has risen by 8.48% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CAG stock heading into the next quarter.
