Mead Johnson Nutrition Co. (MJN) Updates FY13 Earnings Guidance
Mead Johnson Nutrition Co. (NYSE:MJN) issued an update on its FY13 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.30-3.37 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.27, Analyst Ratings News reports. The company issued revenue guidance of $4.17-4.21 billion, compared to the consensus revenue estimate of $4.14 billion.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. upgraded shares of Mead Johnson Nutrition from a neutral rating to a buy rating in a research note to investors on Monday. They now have a $95.00 price target on the stock, up previously from $77.00. On a related note, analysts at Deutsche Bank reiterated a buy rating on shares of Mead Johnson Nutrition in a research note to investors on Wednesday, October 16th. They now have a $86.00 price target on the stock. Finally, analysts at Credit Suisse reiterated an outperform rating on shares of Mead Johnson Nutrition in a research note to investors on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $81.51.
Shares of Mead Johnson Nutrition Co. (NYSE:MJN) opened at 82.36 on Thursday. Mead Johnson Nutrition Co. has a 1-year low of $61.27 and a 1-year high of $86.87. The stock’s 50-day moving average is $75.6 and its 200-day moving average is $77.18. The company has a market cap of $16.669 billion and a price-to-earnings ratio of 27.65.
Mead Johnson Nutrition (NYSE:MJN) last released its earnings data on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $998.04 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts predict that Mead Johnson Nutrition Co. will post $3.27 earnings per share for the current fiscal year.
In other Mead Johnson Nutrition news, Director Stephen Golsby sold 10,000 shares of Mead Johnson Nutrition stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $75.28, for a total value of $752,800.00. Following the sale, the director now directly owns 90,172 shares in the company, valued at approximately $6,788,148. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Mead Johnson Nutrition Company (NYSE:MJN) is a global pediatric nutrition company.
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