RTTNews | Jul 13, 2021 11:00AM EDT

10:59 Tuesday, July 13, 2021 (RTTNews.com) - Shares of branded food company Conagra Brands, Inc.(CAG) are down 4 percent on Tuesday's trading as the company revised its its adjusted earnings and organic net sales growth guidance for the full year 2022.

For fiscal 2022, the company now projects adjusted earnings of about $2.50 per share and organic net sales growth of nearly flat. Earlier, Conagra expected adjusted earnings in the range of $2.63 to $2.73 per share on organic net sales growth of 1 to 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.63 per share on a revenue decline of 2.7 percent to $10.84 billion for the year. Analysts' estimates typically exclude special items.

The stock is currently trading at $34.26, down $1.67 or 4% on the NYSE. CAG has traded between $32.55 and $39.34 during the past 52 weeks.

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