FY2023 Earnings Estimate for Associated British Foods plc Issued By Jefferies Financial Group (OTCMKTS:ASBFY)

Associated British Foods plc (OTCMKTS:ASBFY – Get Rating) – Equities researchers at Jefferies Financial Group upped their FY2023 earnings per share (EPS) estimates for shares of Associated British Foods in a report issued on Monday, March 6th. Jefferies Financial Group analyst J. Grzinic now anticipates that the company will post earnings of $1.61 per share for the year, up from their previous forecast of $1.55. The consensus estimate for Associated British Foods’ current full-year earnings is $1.54 per share. Jefferies Financial Group also issued estimates for Associated British Foods’ FY2024 earnings at $1.80 EPS and FY2025 earnings at $1.97 EPS.

ASBFY has been the topic of several other reports. HSBC raised Associated British Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, March 1st. The Goldman Sachs Group raised Associated British Foods from a “sell” rating to a “neutral” rating in a report on Thursday, December 1st. Deutsche Bank Aktiengesellschaft raised Associated British Foods from a “hold” rating to a “buy” rating in a report on Monday, January 23rd. Morgan Stanley raised Associated British Foods from an “equal weight” rating to an “overweight” rating in a report on Friday, December 2nd. Finally, Citigroup lifted their price objective on Associated British Foods from GBX 1,400 ($16.84) to GBX 1,900 ($22.85) in a report on Monday, February 13th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1,875.00.

Associated British Foods Price Performance

Shares of OTCMKTS ASBFY opened at $24.56 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.93 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $22.98 and its two-hundred day moving average is $19.12. Associated British Foods has a 12 month low of $13.50 and a 12 month high of $25.13.

Associated British Foods Increases Dividend

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

About Associated British Foods

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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.