Credit Suisse Downgrades Mondelez International to Neutral (MDLZ)
Mondelez International (NASDAQ:MDLZ) was downgraded by research analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a report released on Thursday, TheFlyOnTheWall.com reports. They currently have a $36.00 target price on the stock. Credit Suisse’s price objective would indicate a potential upside of 1.81% from the stock’s previous close.
The analysts wrote, “The stock far outperformed its food peers over the past 12 months, up 30%, and is now trading at a hefty valuation premium of 23% on a P/E basis compared to U.S. food companies (see Exhibit 1) versus only 7% last year,” the report said. “That said, we think this is a good stock to hold onto over the next three years due to the strong platform in emerging markets and all of the opportunities for self-help in the supply chain. Pressure from activist investor Trian ensures that management will work aggressively to narrow the gross margin gap between Mondelez and its food peers.”
A number of other analysts have also recently weighed in on MDLZ. Analysts at TheStreet reiterated a “buy” rating on shares of Mondelez International in a research note to investors on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.75.
Shares of Mondelez International (NASDAQ:MDLZ) traded up 1.55% during mid-day trading on Thursday, hitting $35.36. The stock had a trading volume of 10,606,443 shares. Mondelez International has a 52-week low of $26.45 and a 52-week high of $35.43. The stock has a 50-day moving average of $34.33 and a 200-day moving average of $32.09. The company has a market cap of $62.014 billion and a P/E ratio of 22.77.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.41 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.41. The company had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $8.56 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts expect that Mondelez International will post $1.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, December 27th.
Mondelez International, Inc (NASDAQ:MDLZ), is a snack manufacturing company.
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