Associated British Foods plc (ABF) Posts Earnings Results, Beats Expectations By $1.20 EPS

Associated British Foods plc (LON:ABF) posted its earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.67) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 125.90 ($1.66) by GBX 1.20 ($0.02), Bloomberg Earnings reports. Associated British Foods plc had a net margin of 7.01% and a return on equity of 12.97%. The firm had revenue of GBX 1,535.70 billion during the quarter.

Associated British Foods plc (LON:ABF) opened at GBX 3,043 ($40.02) on Friday. Associated British Foods plc has a 12 month low of GBX 2,335 ($30.71) and a 12 month high of GBX 3,387 ($44.55).

The company also recently announced a dividend, which will be paid on Friday, January 12th. Investors of record on Thursday, December 14th will be paid a dividend of GBX 29.65 ($0.39) per share. The ex-dividend date is Thursday, December 14th. This represents a dividend yield of 0.97%. This is an increase from Associated British Foods plc’s previous dividend of $11.35.

Several analysts recently weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 3,500 ($46.03) target price on shares of Associated British Foods plc in a report on Tuesday. Credit Suisse Group lifted their target price on shares of Associated British Foods plc from GBX 3,600 ($47.35) to GBX 3,700 ($48.67) and gave the company an “outperform” rating in a report on Monday, November 20th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a GBX 3,600 ($47.35) target price on shares of Associated British Foods plc in a report on Wednesday, November 15th. HSBC Holdings PLC reiterated a “buy” rating and issued a GBX 3,700 ($48.67) target price on shares of Associated British Foods plc in a report on Thursday, November 2nd. Finally, reiterated a “buy” rating and issued a GBX 3,700 ($48.67) target price on shares of Associated British Foods plc in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of GBX 3,383.40 ($44.50).

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About Associated British Foods plc

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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