Conagra Stock Price (CAG) Hits New Low Ahead of Earnings – What To Expect
Conagra Brands’ stock (NYSE:CAG) has hit further lows at $20.22 in the lead-up to its fiscal fourth-quarter earnings announcement scheduled for this morning, before the opening bell. Persistent supply chain disruptions, reduced profit forecasts, and shifting consumer preferences are all seemingly casting a shadow of uncertainty over the company’s near-term prospects.
Looking ahead to the earnings release, the consensus EPS estimate is $0.61, with a consensus revenue estimate of $2.88 billion, representing a 0.85% year-over-year decline. While Conagra has a track record of beating EPS estimates in recent quarters, the overall market sentiment is clearly cautious leading in.
The stock’s recent performance gives some clues as to…
