Associated British Foods plc Forecasted to Earn FY2023 Earnings of $1.55 Per Share (OTCMKTS:ASBFY)

Associated British Foods plc (OTCMKTS:ASBFY – Get Rating) – Equities research analysts at Jefferies Financial Group upped their FY2023 earnings per share (EPS) estimates for shares of Associated British Foods in a report issued on Tuesday, January 17th. Jefferies Financial Group analyst J. Grzinic now forecasts that the company will earn $1.55 per share for the year, up from their prior forecast of $1.36. The consensus estimate for Associated British Foods’ current full-year earnings is $1.38 per share. Jefferies Financial Group also issued estimates for Associated British Foods’ FY2024 earnings at $1.79 EPS.

A number of other brokerages have also issued reports on ASBFY. The Goldman Sachs Group raised Associated British Foods from a “sell” rating to a “neutral” rating in a research report on Thursday, December 1st. Morgan Stanley raised Associated British Foods from an “equal weight” rating to an “overweight” rating in a research report on Friday, December 2nd. Finally, HSBC lowered Associated British Foods from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Associated British Foods presently has an average rating of “Hold” and an average price target of $1,850.00.

Associated British Foods Stock Performance

OTCMKTS ASBFY opened at $22.99 on Friday. The business has a 50 day moving average price of $20.01 and a two-hundred day moving average price of $18.18. Associated British Foods has a fifty-two week low of $13.50 and a fifty-two week high of $28.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 1.93.

Associated British Foods Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, January 30th. Investors of record on Friday, December 16th will be given a dividend of $0.2962 per share. This is a positive change from Associated British Foods’s previous dividend of $0.14. This represents a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 15th.

Associated British Foods Company Profile

(Get Rating)

Associated British Foods Plc engages in the business of manufacturing and trading of consumer goods. It operates through the following business segments: Grocery, Sugar, Agriculture, Ingredients and Retail. The Grocery segment produces beverages, sweeteners, vegetable oils, bread, baked goods, cereals, herbs and spices, and meat products.