Conagra Brands Inc reports results for the quarter ended May 31 - Earnings Summary

• Conagra Brands Inc CAG reported quarterly adjusted earnings of 56 cents​​ per share for the quarter ended May 31, lower than the same quarter last year, when the company reported EPS of 61 cents. The mean expectation of seventeen analysts for the quarter was for earnings of 58 cents per share. Wall Street expected results to range from 52 cents to 61 cents per share.

• Revenue fell 4.3% to $2.78 billion from a year ago; analysts expected $2.83 billion.

• Conagra Brands Inc's reported EPS for the quarter was 53 cents​.

• The company reported quarterly net income of $256 million.

• Conagra Brands Inc shares had fallen by 0.4% this quarter and lost 26.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 3.3% in the last three months.​

• In the last 30 days, six analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 15 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the food processing peer group is also "hold"

• Wall Street's median 12-month price target for Conagra Brands Inc is $24.50, about 16.8% above its last closing price of $20.38

This summary was machine generated from LSEG data July 10 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)