Magnum Ice Cream (NYSE:MICC) Sets New 12-Month High – Here’s What Happened

The Magnum Ice Cream Company N.V. (NYSE:MICC)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $19.94 and last traded at $19.9480, with a volume of 92229 shares trading hands. The stock had previously closed at $19.67.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MICC. Jefferies Financial Group reiterated a “hold” rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. BNP Paribas Exane downgraded shares of Magnum Ice Cream to a “neutral” rating in a report on Tuesday, April 21st. Zacks Research upgraded shares of Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley restated an “overweight” rating on shares of Magnum Ice Cream in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold”.

Magnum Ice Cream Stock Up 1.4%

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The company has a 50-day simple moving average of $18.08 and a two-hundred day simple moving average of $16.50.

Magnum Ice Cream (NYSE:MICC) last issued its earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The firm had revenue of $2.68 billion during the quarter. On average, equities analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current year.

Hedge Funds Weigh In On Magnum Ice Cream

A number of hedge funds have recently modified their holdings of MICC. Choreo LLC purchased a new stake in shares of Magnum Ice Cream during the fourth quarter worth about $205,000. Assetmark Inc. bought a new position in Magnum Ice Cream during the 4th quarter valued at approximately $169,000. CWM LLC bought a new position in Magnum Ice Cream during the 4th quarter valued at approximately $75,000. Clean Yield Group purchased a new stake in Magnum Ice Cream in the 4th quarter worth approximately $405,000. Finally, JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth approximately $3,166,000.

About Magnum Ice Cream

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.