Conagra Brands (NYSE:CAG) is scheduled to report its first-quarter Fiscal 2023 results on October 6, before the market opens. Wall Street expects the company’s earnings per share (EPS) to grow by 4% year-over-year amid challenging business conditions.
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Headquartered in Chicago, U.S., Conagra Brands sells processed and packaged foods. Earlier today, Conagra announced quarterly dividend of $0.33, which equates to an annual dividend yield of 3.85%. The dividend is payable on December 1 to shareholders of record on November 3.
For Q1, the Street expects CAG to report adjusted earnings of $0.52 per share compared to the prior-year period’s EPS of $0.50.
Meanwhile, the consensus revenue estimate is pegged at $2.84 billion, implying year-over-year growth of 7.2%.
In the prior quarter’s earnings release, Conagra provided a conservative outlook for FY2023 that fell below the consensus expectations.
For FY2023, the company guided for adjusted EPS growth of 1% to 5% compared to the consensus growth expectation of 8.19%.
Further, Conagra expects to achieve full-year organic net sales growth in the range of 4% to 5% and adjusted operating margin of around 15%.
Is Conagra Foods Stock a Buy, Sell or Hold?
On TipRanks, Conagra Brands stock has received a Hold consensus rating based on two Buy and seven Hold recommendations.
CAG stock has a negative signal from hedge fund managers, who sold 7.3 million shares last quarter. Meanwhile, CAG stock has a Neutral Smart Score of six out of 10, indicating that the stock will perform in line with market expectations.
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