Investment Analysts’ Recent Ratings Changes for Diageo PLC (DEO)
Diageo PLC (NYSE: DEO) has recently received a number of price target changes and ratings updates:
- 10/6/2016 – Diageo PLC is now covered by analysts at Credit Agricole SA. They set a “buy” rating and a $130.00 price target on the stock.
- 10/5/2016 – Diageo PLC had its “outperform” rating reaffirmed by analysts at Credit Agricole SA.
- 10/5/2016 – Diageo PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Estimates have been revised downward for the past few weeks as Diageo has been witnessing dismal top line performance primarily due to unfavorable currency fluctuations as well as declining volumes especially in the North American Spirits and European countries. Moreover, increasing restrictions on alcohol consumption by governments across the world have dented revenue growth. However, its strong brands, its product and geographic diversity, and exposure to faster-growing markets are expected to allow it to grow sales and earnings at healthy rates over the long-term. The company’s cost reduction initiative is on track and expected to boost margins further. Further, its focus on higher priced and higher margin items are expected to help it maintain profit going ahead. However, the company”
- 10/3/2016 – Diageo PLC is now covered by analysts at Liberum Capital. They set a “hold” rating on the stock.
- 9/16/2016 – Diageo PLC had its “buy” rating reaffirmed by analysts at Bank of America Corp..
- 9/14/2016 – Diageo PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Diageo’s earnings in fiscal 2016 (ended Jun 30, 2016) gained 1.0% (in local currency) year over year to 89.4 pence ($1.32* per share) from 88.8 pence ($1.37* per share) in the year-ago period backed by organic profit growth, higher associates income and lower finance charges. The company’s cost reduction initiative is on track and expected to boost margins further. However, currency headwinds have been a drag on the top line since the beginning of fiscal 2015 as it raised the price of imported premium spirits. Moreover, increasing restrictions on alcohol consumption by governments across the world have dented revenue growth. However, the company’s stepped-up investment in high-priced and high-margin products should boost margins, going ahead.”
- 9/7/2016 – Diageo PLC had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co..
Shares of Diageo PLC (NYSE:DEO) opened at 109.50 on Friday. Diageo PLC has a 52 week low of $99.59 and a 52 week high of $117.95. The company’s 50 day moving average price is $113.89 and its 200-day moving average price is $111.22. The company has a market capitalization of $68.72 billion, a price-to-earnings ratio of 24.16 and a beta of 0.78.
The firm also recently declared a dividend, which was paid on Wednesday, October 12th. Investors of record on Friday, August 12th were paid a $0.192 dividend. The ex-dividend date was Wednesday, August 10th.
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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