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

Nestlé S.A. (OTCMKTS:NSRGY – Get 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

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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.