The trading price of Conagra Brands Inc. (NYSE:CAG) closed lower on Tuesday, July 20, closing at $35.01, -1.10% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $35.00 and $35.736. The company’s P/E ratio in the trailing 12-month period was 13.15, while its 5Y monthly beta was 0.82. In examining the 52-week price action we see that the stock hit a 52-week high of $39.34 and a 52-week low of $32.55. Over the past month, the stock has lost -1.88% in value.
Conagra Brands Inc., whose market valuation is $16.72 billion at the time of this writing, is expected to release its quarterly earnings report Sep 29, 2021 – Oct 04, 2021. The dividend yield on the company stock is 3.14%, while its Forward Dividend ratio is 1.10. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.52 per share this quarter, however they have predicted annual earnings per share of $2.63 for 2021 and $2.63 for 2022. It means analysts are expecting annual earnings per share growth of 15.40%.
Analysts have forecast the company to bring in revenue of $2.71 billion for the current quarter, with the likely lows of $2.62 billion and highs of $2.87 billion. The average estimate suggests sales will likely down by -17.60% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $11.13 billion. The company’s revenue is forecast to grow by 0.70% over what it did in 2021.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Conagra Brands Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CAG has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CAG a recommendation rating is 17. Out of them, 9 rate it a Hold, while 5 recommend Buy, whereas 2 assign an Overweight rating. 0 analyst(s) have tagged Conagra Brands Inc. (CAG) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 7.17, which symbolizes a positive outlook. A quick review shows that CAG’s price is currently -1.51% off the SMA20 and -5.14% off the SMA50. The RSI metric on the 14-day chart is currently showing 41.46, and weekly volatility stands at 2.22%. When measured over the past 30 days, the indicator reaches 1.65%. Conagra Brands Inc. (NYSE:CAG)’s beta value is currently sitting at 0.87, while the Average True Range indicator is currently displaying 0.65. With analysts defining $34.00-$41.00 as the low and high price targets, we arrive at a consensus price target of $37.20 for the trailing 12-month period. The current price is about 2.88% off the estimated low and -17.11% off the forecast high, based on this estimate. Investors will be thrilled if CAG’s share price rises to $37.00, which is the median consensus price. At that level, CAG’s share price would be -5.68% below current price.
To see how Conagra Brands Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: CAG stock’s performance was -1.10% in the latest trading, and -3.29% in the past year, while The Hain Celestial Group Inc. (HAIN) has traded -1.04% on the day and positioned 26.22% higher than it was a year ago. Another comparable company Mondelez International Inc. (MDLZ) saw its stock close 0.61% higher in the most recent trading session but was up 20.57% in a year. Furthermore, The J. M. Smucker Company (SJM) showed a decrease of -1.10% on the day while its price kept inclining at 25.83% over the past year. Conagra Brands Inc. has a P/E ratio of 13.15, compared to The Hain Celestial Group Inc.’s 138.58 and Mondelez International Inc.’s 24.45. Also in last trading session, the S&P 500 Index has surged 1.52%, while the Dow Jones Industrial also saw a positive session, up 1.62% on the day.
An evaluation of the daily trading volume of Conagra Brands Inc. (NYSE:CAG) indicates that the 3-month average is 3.30 million. However, this figure has increased over the past 10 days to an average of 6.06 million.
Currently, records show that 485.70 million of the company’s shares remain outstanding. The insiders hold 1.80% of outstanding shares, whereas institutions hold 86.20%. The stats also highlight that short interest as of Jun 14, 2021, stood at 14.89 million shares, resulting in a short ratio of 5.25 at that time. From this, we can conclude that short interest is 3.10% of the company’s total outstanding shares. It is noteworthy that short shares in June were up slightly from the previous month’s figure, which was 12.61 million. However, since the stock’s price has seen -3.45% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.