Kellogg Co shares up in early trade after third quarter beats estimates

Angelo Anderson
October 31, 2017

Kellogg Company shares rose $2.38 (+4.04%) in premarket trading Tuesday. Zacks Investment Research downgraded Kellogg from a "buy" rating to a "hold" rating in a report on Friday, August 4th.

John Bryant, Kellogg Company's chairman said, "Our third quarter played out as expected".

In terms of earnings per share, 17 analysts have a 1.01 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-18, 15 analysts have a 1.04 EPS mean target and for the quarter ending Mar-18 there are 20 estimates of 3.97 EPS. Susquehanna Bancshares Inc restated a hold rating on shares of Kellogg in a report on Thursday, August 3rd.

The stock decreased 2.31% or $1.39 during the last trading session, hitting $59.45. Kellogg's revenue for the quarter was up.6% compared to the same quarter past year. During the same period in the previous year, the firm earned $0.96 earnings per share.

Kellogg's net sales rose 0.6 percent to $3.27 billion, while analysts on average had expected it to drop 1.4 percent to $3.21 billion.


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Kellogg Co K.N surprised investors on Tuesday with its first quarterly sales increase in more than two years, showing it was turning a corner after massive cost cuts and a shift to healthier products, sending its shares up 7 percent. The stock has a 50 day moving average of $63.20 and a 200 day moving average of $68.05. The stock has a market cap of $21.47 billion, a P/E ratio of 28.16 and a beta of 0.48. If you are viewing this story on another publication, it was stolen and republished in violation of USA & global trademark and copyright law. Deutsche Bank AG restated a hold rating and set a $74.00 price objective (up previously from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. On average, equities research analysts predict that Kellogg Company will post $3.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. This represents a $2.16 annualized dividend and a yield of 3.67%. Kellogg's dividend payout ratio (DPR) is now 97.74%. Kellogg has a consensus rating of Hold and an average target price of $72.27.

Revenue was US$3.27bn, higher from the year-on-year figure of US$3.25bn, again beating market consensus of US$3.21bn, the maker of ready-to-eat cereal and convenience food.

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