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CAG

Conagra Brands

$28.94

0.035 (0.12%)

07:33
06/27/19
06/27
07:33
06/27/19
07:33

Conagra Brands sees FY20 net sales growth 13.5%-14.0%, consensus $10.89B

The company is providing updated and expanded fiscal 2020 guidance metrics. Note that organic net sales growth excludes the impact of fiscal 2020's 53rd week. All other metrics include the impact of the 53rd week. Sees:Organic net sales growth of 1.0% to 1.5%... Reported net sales growth of 13.5% to 14.0%... Adjusted operating margin in the range of 16.2% to 16.8%... Adjusted net interest expense of approximately $505 million Adjusted effective tax rate of 24% to 25%... Average diluted share count of approximately 488 million. At its Investor Day in April, the company provided preliminary fiscal 2020 adjusted EPS guidance of $2.10 to $2.20. With the Gelit divestiture now complete, the company is removing 2c of adjusted EPS from its fiscal 2020 guidance to reflect the historical profit contribution from that business. The company now expects adjusted fiscal 2020 adjusted EPS in the range of $2.08 to $2.18. Sees free cash flow of approximately $1B.

  • 27

    Jun

CAG Conagra Brands
$28.94

0.035 (0.12%)

04/11/19
JPMS
04/11/19
NO CHANGE
Target $34
JPMS
Overweight
JPMorgan sees 'much more upside' in Conagra, boosts target to $34
JPMorgan analyst Ken Goldman raised his price target for Conagra Brands to $34 from $30 saying he sees "much more upside" in the shares. The company's longer-term sales guidance seems conservative and beatable, Goldman tells investors in a research note. He also believes management is addressing a number of investor concerns, including the sustainability of the frozen category's strength, the reasons for reductions in A&P spending, and the plan to turn around Pinnacle. Goldman reiterates an Overweight rating on Conagra Brands.
05/14/19
RHCO
05/14/19
INITIATION
Target $35
RHCO
Buy
Conagra Brands initiated with a Buy at SunTrust
SunTrust analyst William Chappell initiated Conagra Brands with a Buy rating and a price target of $35, saying the arrival of new management and its efforts to implement a "scalable, repeatable process" across the organization has led to growth in all of its business units. The analyst also sees signs of stabilization for packaged foods companies generally after a "challenging" few years amid a shift toward more favorable pricing and increased demographic tailwinds for frozen foods as more Millenials have children.
05/20/19
MSCO
05/20/19
INITIATION
Target $31
MSCO
Equal Weight
Conagra Brands resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Pamela Kaufman resumed coverage of Conagra Brands with an Equal Weight rating and $31 price target. While she believes the company is well-positioned for revenue growth ahead of Packaged Food peers, she still sees risk with the turnaround of Pinnacle Foods and thinks the risk-reward appears balanced given recently rising expectations.
06/11/19
EVER
06/11/19
INITIATION
Target $36
EVER
Outperform
Conagra Brands initiated with an Outperform at Evercore ISI
Evercore ISI analyst David Palmer started Conagra Brands with an Outperform rating and $36 price target.

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