Kellogg Company (K) to Release Quarterly Earnings on Tuesday
Kellogg Company (NYSE:K) is set to announce its earnings results before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.94 per share for the quarter. Kellogg has set its FY17 guidance at $3.97-4.03 EPS.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, analysts expect Kellogg to post $3.97 EPS for the current fiscal year and $4.28 EPS for the next fiscal year.
Shares of Kellogg Company (K) opened at 61.48 on Tuesday. Kellogg Company has a one year low of $60.96 and a one year high of $78.37. The stock has a market capitalization of $21.22 billion, a P/E ratio of 27.83 and a beta of 0.48. The stock’s 50 day moving average is $64.12 and its 200-day moving average is $68.48.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 annualized dividend and a yield of 3.51%. Kellogg’s payout ratio is presently 97.74%.
Several research firms have issued reports on K. Royal Bank Of Canada set a $81.00 price objective on Kellogg and gave the stock a “hold” rating in a report on Wednesday, October 18th. Piper Jaffray Companies set a $78.00 price objective on Kellogg and gave the stock a “buy” rating in a report on Monday, August 7th. Zacks Investment Research downgraded Kellogg from a “buy” rating to a “hold” rating in a report on Friday, August 4th. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating and upped their target price for the company from $76.00 to $78.00 in a report on Friday, August 4th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $74.00 target price (up previously from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $72.55.
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Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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