Associated British Foods plc (LON:ABF) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Analyst sentiment is cautious: Associated British Foods has an average “Reduce” rating, with three sells and four holds among seven analysts. The average 12-month price target is GBX 1,788.57, below the company’s reported share price of GBX 2,063.36.
• Several brokerages recently lowered their price targets, including Citigroup, JPMorgan Chase, and Deutsche Bank, while Jefferies maintained an “underperform” rating.
• ABF reported quarterly earnings of GBX 174.90 per share and revenue of GBX 1,945.90 billion; analysts expect full-year earnings of approximately GBX 188.10 per share.

Shares of Associated British Foods plc (LON:ABF - Get Free Report) have earned an average recommendation of "Reduce" from the seven ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is GBX 1,788.57.

A number of equities analysts recently commented on ABF shares. Citigroup lowered their target price on Associated British Foods from GBX 1,450 to GBX 1,410 and set a "sell" rating for the company in a report on Tuesday, June 16th. Shore Capital Group reissued a "hold" rating and issued a GBX 2,010 target price on shares of Associated British Foods in a report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price target on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a "neutral" rating on the stock in a research note on Friday, July 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Associated British Foods from GBX 1,925 to GBX 1,850 and set a "hold" rating on the stock in a report on Tuesday, May 26th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a GBX 1,650 price objective on shares of Associated British Foods in a report on Wednesday, July 1st.

Associated British Foods Trading Down 0.1%

ABF opened at GBX 2,063.36 on Friday. Associated British Foods has a 52 week low of GBX 1,729.45 and a 52 week high of GBX 2,359. The business has a fifty day simple moving average of GBX 1,991.29 and a 200-day simple moving average of GBX 1,913.27. The firm has a market cap of £14.44 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.51 and a beta of 0.81. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 32.63.

Associated British Foods (LON:ABF - Get Free Report) last issued its quarterly earnings data on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. The business had revenue of GBX 1,945.90 billion during the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%. On average, equities analysts expect that Associated British Foods will post 188.0990415 earnings per share for the current year.

About Associated British Foods

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia. Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders. Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.

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