Q2 Preview: Kellogg (K) Likely to Beat the Street But Upside Could Be Limited
Tweet
Share
E-mail
Get Alerts K Hot Sheet
Price: $83.44 --0%
Rating Summary:
6 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
While still down for the session, Kellogg (NYSE: K) shares are outperforming the broader stock market ahead of Thursday's second-quarter earnings report. Kellogg last traded at $55.68, down 0.2 percent for the session.
The Street is currently looking for Kellogg to report quarterly EPS of 91 cents on sales of $3.29 billion. Last quarter the packaged food company saw earnings of 99 cents per share on sales of almost $3.49 billion. In the same quarter during 2010, Kellogg posted EPS of 79 cents on sales of $3.06 billion.
Over the last three quarters, data from StreetInsider.com's Earnings History section shows the company reported inline earnings twice and a miss once.
Analysts on Wall Street are mostly bullish into the quarter: data from Bloomberg has 13 firms with a buy, eight with a hold and 3 suggesting to sell.
Shares of Kellogg are up 1 percent over the last month, down 1 percent over the last three months, and up nearly 9 percent on a year-to-date basis.
Analyst Commentary:
The Street is currently looking for Kellogg to report quarterly EPS of 91 cents on sales of $3.29 billion. Last quarter the packaged food company saw earnings of 99 cents per share on sales of almost $3.49 billion. In the same quarter during 2010, Kellogg posted EPS of 79 cents on sales of $3.06 billion.
Over the last three quarters, data from StreetInsider.com's Earnings History section shows the company reported inline earnings twice and a miss once.
Analysts on Wall Street are mostly bullish into the quarter: data from Bloomberg has 13 firms with a buy, eight with a hold and 3 suggesting to sell.
Shares of Kellogg are up 1 percent over the last month, down 1 percent over the last three months, and up nearly 9 percent on a year-to-date basis.
Analyst Commentary:
- Goldman Sachs - Sees a "top line driven beat..." but believes price upside could be limited. For the second half of this year, Goldman cites concerns related to the "expectation of reinvestment." Maintains Neutral and $60 price target.
- Wells Fargo - Calls the stock its top pick heading into the second quarter. Sees Kellogg's multiple expanding "as the company returns to its historical pattern of sustainable sales and earnings growth in 2012." As recently as July 22nd, the firm lifted its second-quarter earnings estimate from 90 cents to 93 cents per share. Maintains Outperform rating.
- Deutsche Bank - Will focus on "top line performance along with the core US cereal outlook and the state of the consumer." Also will be looking for more details on international markets. Expects EPS of 93 cents. Maintains Neutral and $62 price target.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Is the global equity rally broadening? UBS weighs in
- Rithm Capital Corp. (RITM) PT Lowered to $14 at UBS on Higher for Longer Rates
- CoStar Group acquires Zonda for $800M, adding new home data
Create E-mail Alert Related Categories
Analyst Comments, EarningsRelated Entities
Deutsche Bank, Earnings, Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
