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Kellogg (K) Gains As Market Dips: What You Should Know
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Kellogg (K - Free Report) closed at $70.85 in the latest trading session, marking a +1.72% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Heading into today, shares of the maker of Frosted Flakes, Pop Tarts and Eggo waffles had lost 3.34% over the past month, outpacing the Consumer Staples sector's loss of 8.38% and the S&P 500's loss of 8.4% in that time.
Investors will be hoping for strength from Kellogg as it approaches its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of $0.96, down 11.93% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.76 billion, up 3.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.13 per share and revenue of $14.85 billion, which would represent changes of -0.72% and +4.69%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Kellogg. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. Kellogg currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Kellogg is holding a Forward P/E ratio of 16.89. This valuation marks a discount compared to its industry's average Forward P/E of 17.01.
Also, we should mention that K has a PEG ratio of 4.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.43 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Kellogg (K) Gains As Market Dips: What You Should Know
Kellogg (K - Free Report) closed at $70.85 in the latest trading session, marking a +1.72% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Heading into today, shares of the maker of Frosted Flakes, Pop Tarts and Eggo waffles had lost 3.34% over the past month, outpacing the Consumer Staples sector's loss of 8.38% and the S&P 500's loss of 8.4% in that time.
Investors will be hoping for strength from Kellogg as it approaches its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of $0.96, down 11.93% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.76 billion, up 3.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.13 per share and revenue of $14.85 billion, which would represent changes of -0.72% and +4.69%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Kellogg. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. Kellogg currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Kellogg is holding a Forward P/E ratio of 16.89. This valuation marks a discount compared to its industry's average Forward P/E of 17.01.
Also, we should mention that K has a PEG ratio of 4.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.43 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.