Associated British Foods plc (ABF) Earns “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Associated British Foods plc (LON:ABF) in a report issued on Wednesday morning. They currently have a GBX 3,600 ($47.35) price objective on the stock.
Several other research analysts also recently issued reports on the company. HSBC Holdings plc reaffirmed a buy rating and set a GBX 3,700 ($48.67) price target on shares of Associated British Foods plc in a research note on Friday, July 21st. Macquarie initiated coverage on shares of Associated British Foods plc in a research note on Friday, October 27th. They issued an underperform rating and a GBX 2,900 ($38.14) target price for the company. Liberum Capital reissued a buy rating and issued a GBX 3,150 ($41.43) target price on shares of Associated British Foods plc in a research note on Wednesday, August 30th. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a GBX 3,585 ($47.15) target price on shares of Associated British Foods plc in a research note on Monday, September 11th. Finally, Deutsche Bank AG reissued a buy rating and issued a GBX 3,500 ($46.03) target price on shares of Associated British Foods plc in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. Associated British Foods plc has a consensus rating of Buy and an average price target of GBX 3,315.76 ($43.61).
Associated British Foods plc (LON ABF) traded down GBX 46 ($0.61) during trading hours on Wednesday, hitting GBX 3,066 ($40.33). The stock had a trading volume of 1,368,970 shares, compared to its average volume of 784,738. Associated British Foods plc has a fifty-two week low of GBX 2,335 ($30.71) and a fifty-two week high of GBX 3,387 ($44.55).
Associated British Foods plc (LON:ABF) last released its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.67) earnings per share (EPS) for the quarter, topping the consensus estimate of GBX 125.90 ($1.66) by GBX 1.20 ($0.02). The business had revenue of GBX 1,535.70 billion during the quarter. Associated British Foods plc had a return on equity of 12.97% and a net margin of 7.01%.
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The firm also recently declared a dividend, which will be paid on Friday, January 12th. Shareholders of record on Thursday, December 14th will be issued a GBX 29.65 ($0.39) dividend. This is a boost from Associated British Foods plc’s previous dividend of $11.35. The ex-dividend date of this dividend is Thursday, December 14th. This represents a yield of 0.97%.
Associated British Foods plc 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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