The Magnum Ice Cream Company N.V. (NYSE:MICC) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Magnum Ice Cream has a consensus “Hold” rating from 10 analysts: seven holds, two buys and one sell. Recent coverage includes neutral or hold ratings from Citigroup, Jefferies, Deutsche Bank and Weiss Ratings, while Morgan Stanley maintains an overweight rating.
• Shares opened at $18.93, compared with a 12-month range of $12.94 to $20.68. The company reported quarterly EPS of $0.41 on revenue of $2.68 billion, and analysts expect approximately $1.10 in full-year EPS.
• Several financial institutions, including BNP Paribas and Cullen Frost Bankers, recently acquired new positions in Magnum Ice Cream, though the disclosed investments were relatively small, ranging from $27,000 to $37,000.

The Magnum Ice Cream Company N.V. (NYSE:MICC - Get Free Report) has been assigned an average rating of "Hold" from the ten analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company.

Several brokerages recently weighed in on MICC. Citigroup started coverage on Magnum Ice Cream in a research note on Tuesday. They set a "neutral" rating on the stock. Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Weiss Ratings raised Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Magnum Ice Cream in a research note on Wednesday, September 9th. Finally, Morgan Stanley restated an "overweight" rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BNP Paribas acquired a new stake in shares of Magnum Ice Cream during the fourth quarter worth $27,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Magnum Ice Cream during the fourth quarter valued at $28,000. Leonteq Securities AG acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at $30,000. Larson Financial Group LLC acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at $37,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Magnum Ice Cream in the first quarter valued at about $37,000.

Magnum Ice Cream Price Performance

Shares of MICC opened at $18.93 on Friday. Magnum Ice Cream has a twelve month low of $12.94 and a twelve month high of $20.68. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01. The company has a 50 day moving average of $19.14 and a two-hundred day moving average of $16.92.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The business had revenue of $2.68 billion for the quarter. Equities analysts predict that Magnum Ice Cream will post 1.1 EPS for the current fiscal year.

About Magnum Ice Cream

The Magnum Ice Cream Company N.V. is a global ice cream company formed through the separation of Unilever's ice cream business. The company develops, manufactures and markets branded ice cream products for retail, foodservice and other distribution channels.

Its portfolio includes Magnum, Ben & Jerry's, Wall's, Cornetto, Solero, Carte d'Or, Viennetta and Breyers, among other regional and local brands. Products include ice cream tubs, cones, sticks, sandwiches and other frozen desserts.

The company serves consumers across multiple international markets through a combination of owned operations, manufacturing facilities and distribution partners.

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