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Conagra Brands (CAG) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Conagra Brands (CAG) closed at $35.02, marking a -0.31% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.

Heading into today, shares of the company had lost 7.11% over the past month, lagging the Consumer Staples sector's loss of 4.48% and the S&P 500's gain of 4.14% in that time.

Investors will be hoping for strength from Conagra Brands as it approaches its next earnings release. The company is expected to report EPS of $0.61, down 6.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.06 billion, up 5.1% from the year-ago period.

Any recent changes to analyst estimates for Conagra Brands should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.7% higher within the past month. Conagra Brands currently has a Zacks Rank of #1 (Strong Buy).

Investors should also note Conagra Brands's current valuation metrics, including its Forward P/E ratio of 12.36. This represents a discount compared to its industry's average Forward P/E of 18.04.

Investors should also note that CAG has a PEG ratio of 1.95 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.52 based on yesterday's closing prices.

The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Conagra Brands (CAG) : Free Stock Analysis Report

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