Zacks: Brokerages Expect Mondelez International, Inc. (MDLZ) Will Post Quarterly Sales of $6.48 Billion
Analysts forecast that Mondelez International, Inc. (NASDAQ:MDLZ) will announce $6.48 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Mondelez International’s earnings, with the lowest sales estimate coming in at $6.37 billion and the highest estimate coming in at $6.55 billion. Mondelez International posted sales of $6.40 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.3%. The firm is expected to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that Mondelez International will report full-year sales of $6.48 billion for the current financial year, with estimates ranging from $25.41 billion to $26.04 billion. For the next financial year, analysts anticipate that the business will post sales of $26.24 billion per share, with estimates ranging from $25.56 billion to $26.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Mondelez International.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. Mondelez International had a net margin of 6.92% and a return on equity of 11.96%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.98 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. Mondelez International’s revenue for the quarter was down 5.0% on a year-over-year basis.
MDLZ has been the topic of several recent research reports. UBS AG reaffirmed a “buy” rating and set a $51.00 price objective on shares of Mondelez International in a research report on Thursday, July 6th. Credit Suisse Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Mondelez International in a research report on Tuesday, June 13th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $54.00 price objective on shares of Mondelez International in a research report on Monday, May 22nd. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of Mondelez International in a research report on Wednesday, August 2nd. Finally, Piper Jaffray Companies initiated coverage on shares of Mondelez International in a research report on Wednesday, May 24th. They set a “neutral” rating and a $48.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $50.33.
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In other news, EVP Maurizio Brusadelli sold 6,248 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $43.76, for a total value of $273,412.48. Following the sale, the executive vice president now owns 61,651 shares in the company, valued at $2,697,847.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Stevens Capital Management LP acquired a new stake in shares of Mondelez International in the first quarter worth $11,268,000. United Bank grew its stake in shares of Mondelez International by 6.6% in the first quarter. United Bank now owns 20,759 shares of the company’s stock worth $894,000 after acquiring an additional 1,282 shares during the last quarter. Putnam FL Investment Management Co. grew its stake in shares of Mondelez International by 6.1% in the first quarter. Putnam FL Investment Management Co. now owns 90,239 shares of the company’s stock worth $3,888,000 after acquiring an additional 5,165 shares during the last quarter. Blue Rock Advisors LLC acquired a new stake in shares of Mondelez International in the first quarter worth $431,000. Finally, Steinberg Global Asset Management grew its stake in shares of Mondelez International by 0.3% in the second quarter. Steinberg Global Asset Management now owns 27,074 shares of the company’s stock worth $1,169,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.
Shares of Mondelez International (NASDAQ MDLZ) opened at 40.63 on Monday. The stock has a market capitalization of $61.26 billion, a P/E ratio of 35.73 and a beta of 1.20. Mondelez International has a 1-year low of $40.22 and a 1-year high of $47.23. The firm’s 50-day moving average is $42.90 and its 200 day moving average is $44.16.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be paid a $0.22 dividend. This is an increase from Mondelez International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.17%. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.
Mondelez International Company Profile
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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