ConAgra Foods, Inc. Reaffirms its Earnings Outlook for Fiscal Year 2013 (CAG)

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On Monday senior management of ConAgra Foods, Inc. ( CAG ) expects to affirm its previous earnings outlook for fiscal year 2013.

The consumer and commercial food company previously announced that they expect earnings per share ( EPS ) to be in the range of $2.03 to $2.06. The company forecasts long term annual EPS to be 6% to 8%, adjusted for items impacting comparability.

ConAgra also believes that fiscal 2013 operating cash flow to exceed $1.2 billion.

ConAgra's share price was flat in premarket trading on Monday.

The Bottom Line
Shares of Conagra Foods ( CAG ) have a 3.58% dividend yield, based on Friday's closing stock price of $27.94. The stock has technical support in the $25-$26 price area. If the shares can firm up, we see overhead resistance around the $30 price level.

ConAgra Foods, Inc. ( CAG ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CAG , EPS

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