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Kellogg (K) Gains As Market Dips: What You Should Know
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Kellogg (K - Free Report) closed the most recent trading day at $68.55, moving +1.38% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.58%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 11.95%.
Coming into today, shares of the maker of Frosted Flakes, Pop Tarts and Eggo waffles had gained 2.72% in the past month. In that same time, the Consumer Staples sector gained 5.05%, while the S&P 500 gained 4.27%.
Kellogg will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. The company is expected to report EPS of $1, down 9.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.96 billion, up 7.75% from the year-ago period.
K's full-year Zacks Consensus Estimates are calling for earnings of $4.04 per share and revenue of $16.08 billion. These results would represent year-over-year changes of -4.04% and +4.97%, respectively.
Any recent changes to analyst estimates for Kellogg should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Kellogg is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Kellogg currently has a Forward P/E ratio of 16.72. This valuation marks a discount compared to its industry's average Forward P/E of 18.21.
Also, we should mention that K has a PEG ratio of 2.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Food - Miscellaneous industry currently had an average PEG ratio of 2.78 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Kellogg (K) Gains As Market Dips: What You Should Know
Kellogg (K - Free Report) closed the most recent trading day at $68.55, moving +1.38% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.58%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 11.95%.
Coming into today, shares of the maker of Frosted Flakes, Pop Tarts and Eggo waffles had gained 2.72% in the past month. In that same time, the Consumer Staples sector gained 5.05%, while the S&P 500 gained 4.27%.
Kellogg will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. The company is expected to report EPS of $1, down 9.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.96 billion, up 7.75% from the year-ago period.
K's full-year Zacks Consensus Estimates are calling for earnings of $4.04 per share and revenue of $16.08 billion. These results would represent year-over-year changes of -4.04% and +4.97%, respectively.
Any recent changes to analyst estimates for Kellogg should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Kellogg is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Kellogg currently has a Forward P/E ratio of 16.72. This valuation marks a discount compared to its industry's average Forward P/E of 18.21.
Also, we should mention that K has a PEG ratio of 2.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Food - Miscellaneous industry currently had an average PEG ratio of 2.78 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.