Deutsche Bank on U.S. Beverages and Household/Personal Care Products: Adjusting Estimates on Eight Companies
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Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
4 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
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Deutsche Bank on U.S. Beverages and Household/Personal Care Products
Analyst, Bill Schmitz Jr, said, "Stocks are clearly getting the defensive love that one would expect given the global macro uncertainty, with relative valuation at both the household and personal care and beverage groups well above historical levels to the market. Moreover, with weak volume trends, slowing growth in EM and Europe and currency headwinds, earnings growth deceleration is likely and relative outperformance from these elevated levels is dubious. We are thus maintaining our market perform view but still see relative value in a handful of names."
Schmitz adjusts estimates on:
Church & Dwight (NYSE: CHD): Q2 from $0.54 to $0.56 and FY12 from $2.43 to $2.45.
Colgate (NYSE: CL): Q2 EPS estimate from $1.31 to $1.33, FY12 from $5.33 to $5.34 and FY13 from $5.86 to $5.89.
Spectrum Brands (NYSE: SPB): FY12 EPS lowered from $2.66 to $2.64 and FY13 from $3.02 to $3.00.
PepsiCo (NYSE: PEP): Q2 EPS from $1.04 to $1.07, FY12 from $4.04 to $4.16 and FY13 from $4.42 to $4.54.
Cott (NYSE: COT): Q2 from $0.22 to $0.25 and FY12 from $0.63 to $0.67.
Estee Lauder (NYSE: EL): FY13 EPS estimate lowered from $2.64 to $2.55.
Clorox (NYSE: CLX): Q2 and FY12 EPS estimate each lowered $0.01 to $1.27 and $4.06, respectively.
Kimberly-Clark (NYSE: KMB): Q2 EPS estimate lowered from $1.28 to $1.27, FY12 from $5.15 to $5.13 and FY13 from $5.55 to $5.52.
In conclusion, Schmitz said, "We are sticking with strategy of owning high quality but relatively expensive category killing multinationals like Colgate and Coca-Cola (NYSE: KO) and more controversial, mean reversion names like Newell (NYSE: NWL), Coca-Cola Enterprises (NYSE: CCE), Cott, Spectrum Brands, P&G (NYSE: PG and Avon (NYSE: AVP), with Nu Skin (NYSE: NUS) and SodaStream (Nasdaq: SODA) discrete growth stories with higher betas."
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Analyst, Bill Schmitz Jr, said, "Stocks are clearly getting the defensive love that one would expect given the global macro uncertainty, with relative valuation at both the household and personal care and beverage groups well above historical levels to the market. Moreover, with weak volume trends, slowing growth in EM and Europe and currency headwinds, earnings growth deceleration is likely and relative outperformance from these elevated levels is dubious. We are thus maintaining our market perform view but still see relative value in a handful of names."
Schmitz adjusts estimates on:
Church & Dwight (NYSE: CHD): Q2 from $0.54 to $0.56 and FY12 from $2.43 to $2.45.
Colgate (NYSE: CL): Q2 EPS estimate from $1.31 to $1.33, FY12 from $5.33 to $5.34 and FY13 from $5.86 to $5.89.
Spectrum Brands (NYSE: SPB): FY12 EPS lowered from $2.66 to $2.64 and FY13 from $3.02 to $3.00.
PepsiCo (NYSE: PEP): Q2 EPS from $1.04 to $1.07, FY12 from $4.04 to $4.16 and FY13 from $4.42 to $4.54.
Cott (NYSE: COT): Q2 from $0.22 to $0.25 and FY12 from $0.63 to $0.67.
Estee Lauder (NYSE: EL): FY13 EPS estimate lowered from $2.64 to $2.55.
Clorox (NYSE: CLX): Q2 and FY12 EPS estimate each lowered $0.01 to $1.27 and $4.06, respectively.
Kimberly-Clark (NYSE: KMB): Q2 EPS estimate lowered from $1.28 to $1.27, FY12 from $5.15 to $5.13 and FY13 from $5.55 to $5.52.
In conclusion, Schmitz said, "We are sticking with strategy of owning high quality but relatively expensive category killing multinationals like Colgate and Coca-Cola (NYSE: KO) and more controversial, mean reversion names like Newell (NYSE: NWL), Coca-Cola Enterprises (NYSE: CCE), Cott, Spectrum Brands, P&G (NYSE: PG and Avon (NYSE: AVP), with Nu Skin (NYSE: NUS) and SodaStream (Nasdaq: SODA) discrete growth stories with higher betas."
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