Equities Analysts Issue Forecasts for MICHELIN (CGDE)’s FY2018 Earnings (MGDDY)

MICHELIN (CGDE) (OTCMKTS:MGDDY) – Analysts at Jefferies Group increased their FY2018 earnings per share estimates for MICHELIN (CGDE) in a research report issued on Tuesday. Jefferies Group analyst A. Kurian now forecasts that the company will post earnings per share of $2.56 for the year, up from their prior forecast of $2.52. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for MICHELIN (CGDE)’s FY2019 earnings at $2.75 EPS and FY2020 earnings at $2.96 EPS.

Separately, Zacks Investment Research downgraded shares of MICHELIN (CGDE) from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th.

Shares of MICHELIN (OTCMKTS MGDDY) traded up $0.48 during midday trading on Wednesday, reaching $30.90. 3,211 shares of the company’s stock traded hands, compared to its average volume of 72,878. MICHELIN has a twelve month low of $22.13 and a twelve month high of $32.26.

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Compagnie Générale des Établissements Michelin manufactures, distributes, and sells tires worldwide. It offers tires for cars, vans, trucks, buses, farm machinery, earthmovers, mining and handling equipment, tramways, metros, aircraft, motorcycles, scooters, and bicycles. The company provides its products primarily under the BFGoodrich, KLEBER, UNIROYAL, TIGAR, KORMORAN, RIKEN, TAURUS, SIAMTYRE, and WARRIOR brand names.

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