ConAgra Foods, Inc. Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component ConAgra Foods, Inc. (NYSE:CAG) will unveil its latest earnings on Thursday, June 23, 2011. ConAgra Foods, Inc. is a food company that supplies frozen potato and sweet potato products, as well as other vegetable, spice, and grain products to restaurants, foodservice operators and commercial customers.

ConAgra Foods, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst is estimating net income of 48 cents per share, a rise of 23.1% from the same quarter a year ago. Estimates range from profit of 46 cents per share to net income of 49 cents per share. Over the past three months, the consensus estimate has moved down from 50 cents. The consensus estimate is unchanged from a month ago. For the year, analysts are projecting profit of $1.77 per share, a rise of 1.7% from last year.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the third quarter, it reported net income of 50 cents per share versus a mean estimate of 46 cents. Two quarters ago, it reported profit of 45 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $3.18 billion in revenue this quarter, a rise of 3.9% from the year ago quarter. Analysts are forecasting total revenue of $12.3 billion for the year after last year’s revenue of $12.08 billion.

Analyst Ratings: Analysts seem relatively indifferent about ConAgra with nine of 12 analysts surveyed maintaining a hold rating. While the average rating for the stock remains a hold, the rating is on steadier footing than three months ago.

Key Stats:

A year-over-year revenue increase last quarter snaps a streak of three consecutive quarters of revenue declines. Revenue rose 1.9% in the third quarter and fell 0.4% in the second quarter, 4.9% in the first quarter and 12.8% in the fourth quarter of the last fiscal year.

While the company has been profitable for the last eight quarters, income has fallen year over year by an average of 20.6% over the past four quarters. The quarter hit the hardest was the fourth quarter of the last fiscal year, that saw a 48.1% drop.

Competitors to Watch: General Mills, Inc. (NYSE:GIS), TreeHouse Foods Inc. (NYSE:THS), Lancaster Colony Corp. (NASDAQ:LANC), Kraft Foods Inc. (NYSE:KFT), J&J Snack Foods Corp. (NASDAQ:JJSF), Seneca Foods Corporation (NASDAQ:SENEB), The Hain Celestial Group, Inc. (NASDAQ:HAIN), H.J. Heinz Company (NYSE:HNZ), The J.M. Smucker Company (NYSE:SJM), and Ralcorp Holdings, Inc. (NYSE:RAH).

The stock price saw one of its best stretches over the last year between April 29, 2011 and May 4, 2011 when shares rose for four-straight days, rising 4.3% (+$1.06) over that span. It saw one of its worst periods between June 1, 2011 and June 7, 2011 when shares fell for five-straight days, falling 3.8% (-96 cents) over that span.

(Source: Xignite Financials)

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