Editor's note: article has been updated to correct guidance estimate

ConAgra Foods  (CAG - Get Report) shares were down more than 1% premarket on Thursday after the company reported third quarter earnings of 48 cents per share on revenue of $1.98 billion, vs. analysts' consensus expectations of earnings of 45 cents per share on revenue of $1.99 billion. 

ConAgra also forecast fiscal 2017 EPS at or above $1.70 per share which is in line with FactSet's expectations for the period.