Jefferies Financial Group Equities Analysts Lower Earnings Estimates for Associated British Foods plc (OTCMKTS:ASBFY)

Associated British Foods plc (OTCMKTS:ASBFY – Get Rating) – Jefferies Financial Group reduced their FY2022 earnings estimates for shares of Associated British Foods in a research report issued to clients and investors on Monday, April 11th. Jefferies Financial Group analyst J. Grzinic now forecasts that the company will earn $1.69 per share for the year, down from their prior estimate of $1.96. Jefferies Financial Group also issued estimates for Associated British Foods’ FY2024 earnings at $2.11 EPS.

Several other research firms have also commented on ASBFY. The Goldman Sachs Group lowered Associated British Foods from a “neutral” rating to a “sell” rating in a report on Thursday, January 27th. Zacks Investment Research upgraded shares of Associated British Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Societe Generale downgraded shares of Associated British Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd. Finally, Morgan Stanley downgraded shares of Associated British Foods from an “overweight” rating to an “equal weight” rating in a research report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1,367.50.

Shares of OTCMKTS ASBFY opened at $20.96 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.31. Associated British Foods has a 12-month low of $20.49 and a 12-month high of $34.54. The business’s fifty day simple moving average is $23.53 and its 200-day simple moving average is $25.43.

About Associated British Foods (Get Rating)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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