Conagra Brands Likely To Report Lower Q3 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Conagra Brands, Inc. CAG is scheduled to release earnings results for its third quarter, before the opening bell on April 4, 2024.

Analysts expect the Chicago, Illinois-based company to report quarterly earnings at 65 cents per share, down from 76 cents per share in the year-ago period. Conagra Brands is projected to post revenue of $3.01 billion for the quarter, according to data from Benzinga Pro.

On Feb. 29, Conagra Brands entered into definitive agreement to divest its 51.8% ownership stake in Agro Tech Foods Limited.

Conagra Brands shares fell 1.7% to close at $29.06 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Evercore ISI Group analyst David Palmer downgraded the stock from Outperform to Neutral with a price target of $32 on Dec. 11, 2023. This analyst has an accuracy rate of 70%.
• Morgan Stanley analyst Pamela Kaufman maintained an Equal-Weight rating and cut the price target from $37 to $29 on Oct. 9, 2023. This analyst has an accuracy rate of 65%.
• Jefferies analyst Rob Dickerson maintained a Hold rating and slashed the price target from $30 to $28 on Oct. 6, 2023. This analyst has an accuracy rate of 70%.
• Stifel analyst Matthew Smith maintained a Hold rating and lowered the price target from $36 to $29 on Oct. 6, 2023. This analyst has an accuracy rate of 67%.
• JP Morgan analyst Ken Goldman maintained a Neutral rating and slashed the price target from $38 to $37 on Aug. 21, 2023. This analyst has an accuracy rate of 78%.

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