Credit Suisse Group reissued their outperform rating on shares of Associated British Foods (LON:ABF) in a research note released on Wednesday. Credit Suisse Group currently has a GBX 3,700 ($50.18) price objective on the stock.
Several other equities analysts have also recently issued reports on ABF. reiterated a buy rating and issued a GBX 3,700 ($50.18) price target on shares of Associated British Foods in a report on Thursday, November 2nd. HSBC restated a buy rating and set a GBX 3,700 ($50.18) target price on shares of Associated British Foods in a report on Thursday, November 2nd. Royal Bank of Canada restated a sector performer rating and set a GBX 3,100 ($42.04) target price on shares of Associated British Foods in a report on Monday, January 8th. restated a buy rating and set a GBX 3,700 ($50.18) target price on shares of Associated British Foods in a report on Thursday, November 2nd. Finally, Berenberg Bank raised their target price on Associated British Foods from GBX 3,100 ($42.04) to GBX 3,200 ($43.40) and gave the stock a hold rating in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of GBX 3,427.26 ($46.48).
Associated British Foods (LON:ABF) opened at GBX 2,825 ($38.31) on Wednesday. The stock has a market capitalization of $22,360.00 and a PE ratio of 1,858.55. Associated British Foods has a 1-year low of GBX 2,335 ($31.67) and a 1-year high of GBX 3,387 ($45.93).
Associated British Foods (LON:ABF) last posted its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) earnings per share (EPS) for the quarter, beating the consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). The business had revenue of GBX 1,535.70 billion for the quarter. Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%.
The firm also recently declared a dividend, which was paid on Friday, January 12th. Stockholders of record on Thursday, December 14th were given a dividend of GBX 29.65 ($0.40) per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a dividend yield of 0.97%. This is a positive change from Associated British Foods’s previous dividend of $11.35.
In other news, insider John Bason sold 21,716 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($41.27), for a total transaction of £660,817.88 ($896,145.76).
Associated British Foods Company Profile
Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.
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