Jefferies Financial Group Comments on Nestlé S.A.’s FY2023 Earnings (OTCMKTS:NSRGY)

Nestlé S.A. (OTCMKTS:NSRGYGet Rating) – Equities research analysts at Jefferies Financial Group upped their FY2023 earnings per share estimates for Nestlé in a report released on Wednesday, January 18th. Jefferies Financial Group analyst M. Deboo now expects that the company will post earnings of $5.47 per share for the year, up from their prior estimate of $5.10. Jefferies Financial Group has a “Hold” rating on the stock. The consensus estimate for Nestlé’s current full-year earnings is $4.96 per share. Jefferies Financial Group also issued estimates for Nestlé’s FY2024 earnings at $5.92 EPS and FY2025 earnings at $6.37 EPS.

NSRGY has been the topic of several other research reports. Societe Generale downgraded Nestlé from a “buy” rating to a “sell” rating in a research note on Thursday, October 27th. Credit Suisse Group dropped their price objective on Nestlé from CHF 126 to CHF 115 and set a “neutral” rating on the stock in a research note on Friday, October 21st. Morgan Stanley raised Nestlé from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 6th. Berenberg Bank dropped their price target on Nestlé from CHF 130 to CHF 126 and set a “buy” rating on the stock in a research note on Tuesday, October 25th. Finally, HSBC downgraded Nestlé from a “buy” rating to a “hold” rating in a research note on Thursday, December 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Nestlé presently has a consensus rating of “Hold” and a consensus price target of $126.14.

Nestlé Stock Performance

NSRGY stock opened at $122.17 on Friday. The business’s fifty day moving average is $118.09 and its 200-day moving average is $115.58. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.80 and a quick ratio of 0.46. Nestlé has a twelve month low of $102.78 and a twelve month high of $133.86.

Hedge Funds Weigh In On Nestlé

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. bought a new position in shares of Nestlé in the 2nd quarter valued at about $27,000. Boyd Watterson Asset Management LLC OH bought a new position in shares of Nestlé in the 4th quarter valued at about $28,000. Front Row Advisors LLC grew its holdings in shares of Nestlé by 53.1% in the 3rd quarter. Front Row Advisors LLC now owns 450 shares of the company’s stock valued at $48,000 after acquiring an additional 156 shares in the last quarter. Castleview Partners LLC grew its holdings in Nestlé by 24.2% during the second quarter. Castleview Partners LLC now owns 1,192 shares of the company’s stock worth $208,000 after purchasing an additional 232 shares during the period. Finally, Grassi Investment Management bought a new position in Nestlé during the fourth quarter worth about $213,000. Institutional investors own 0.97% of the company’s stock.

About Nestlé

(Get Rating)

Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone Europe, Middle East and North Africa; Zone Americas; and Zone Asia, Oceania and sub-Saharan Africa segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Nestle L'atelier, Nestle Toll House, Milkybar, Smarties, Quality Street, Aero, Garoto, Orion, and Cailler brands.

Featured Articles

Earnings History and Estimates for Nestlé (OTCMKTS:NSRGY)

Receive News & Ratings for Nestlé Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nestlé and related companies with MarketBeat.com's FREE daily email newsletter.