New World's Financing Back in Spotlight as Loan Deadline Nears
The distressed builder in late May invited more banks to join the three-year facility backed by its crown jewel asset, Victoria Dockside, with a commitment deadline set for July 11, Bloomberg News reported.
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In its upcoming report, Conagra Brands (CAG) is predicted by Wall Street analysts to post quarterly earnings of $0.59 per share, reflecting a decline of 3.3% compared to the same period last year. Revenues are forecasted to be $2.85 billion, representing a year-over-year decrease of 1.8%. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock. While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight. With that in mind, let's delve into the average projections of some Conagra Brands metrics that are commonly tracked and projected by analysts on Wall Street. Analysts expect 'Sales- Grocery & Snacks' to come in at $1.18 billion. The estimate indicates a change of +0.7% from the prior-year quarter. Analysts forecast 'Sales- Foodservice' to reach $282.84 million. The estimate indicates a change of -2.9% from the prior-year quarter. The consensus among analysts is that 'Sales- International' will reach $228.22 million. The estimate suggests a change of -14.5% year over year. Analysts predict that the 'Sales- Refrigerated & Frozen' will reach $1.16 billion. The estimate suggests a change of -1.3% year over year. The collective assessment of analysts points to an estimated 'Net Sales growth - International' of -14.4%. The estimate compares to the year-ago value of 6.4%. Analysts' assessment points toward 'Price/Mix - Foodservice' reaching 2.3%. Compared to the present estimate, the company reported 6.4% in the same quarter last year. The average prediction of analysts places 'Volume (Organic) - International' at -3.8%. The estimate compares to the year-ago value of 4.1%. The combined assessment of analysts suggests that 'Organic net sales growth - International' will likely reach -1.3%. The estimate is in contrast to the year-ago figure of 4.3%. Based on the collective assessment of analysts, 'Adjusted Operating Profit (loss)- Grocery & Snacks' should arrive at $256.07 million. The estimate is in contrast to the year-ago figure of $255.40 million. It is projected by analysts that the 'Adjusted Operating Profit (loss)- Refrigerated & Frozen' will reach $171.73 million. Compared to the current estimate, the company reported $189.70 million in the same quarter of the previous year. The consensus estimate for 'Adjusted Operating Profit (loss)- Foodservice' stands at $38.03 million. The estimate is in contrast to the year-ago figure of $39.70 million. According to the collective judgment of analysts, 'Adjusted Operating Profit (loss)- International' should come in at $29.74 million. Compared to the current estimate, the company reported $28.90 million in the same quarter of the previous year. View all Key Company Metrics for Conagra Brands here>>> Over the past month, shares of Conagra Brands have returned -5.7% versus the Zacks S&P 500 composite's +5.2% change. Currently, CAG carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Conagra Brands (CAG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Are You Looking for a Top Momentum Pick? Why Perimeter Solutions, SA (PRM) is a Great Choice
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Below, we take a look at Perimeter Solutions, SA (PRM), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score. It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Perimeter Solutions, SA currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. You can see the current list of Zacks #1 Rank Stocks here >>> In order to see if PRM is a promising momentum pick, let's examine some Momentum Style elements to see if this company holds up. A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area. For PRM, shares are up 5.27% over the past week while the Zacks Chemical - Specialty industry is up 3.31% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 21.66% compares favorably with the industry's 3.05% performance as well. While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of Perimeter Solutions, SA have risen 58.66%, and are up 93.58% in the last year. On the other hand, the S&P 500 has only moved 16.66% and 14.76%, respectively. Investors should also pay attention to PRM's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. PRM is currently averaging 1,089,739 shares for the last 20 days. The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with PRM. Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost PRM's consensus estimate, increasing from $0.68 to $1.14 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period. Taking into account all of these elements, it should come as no surprise that PRM is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Perimeter Solutions, SA on your short list. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Perimeter Solutions, SA (PRM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
