The Magnum Ice Cream Company N.V. (NYSE:MICC) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Magnum Ice Cream, with two sell ratings, four hold ratings, and two buy ratings among eight covering brokerages.
• Several institutional investors, including UBS Group, Zurcher Kantonalbank, Generali Asset Management, Ruffer, and ASR Vermogensbeheer, recently established positions in the company.
• Shares opened at $18.20, down 1.6%, while the company reported quarterly earnings of $0.41 per share on revenue of $2.68 billion.

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Get Free Report) have been given a consensus recommendation of "Hold" by the eight brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company.

A number of analysts have commented on the stock. Jefferies Financial Group reaffirmed a "hold" rating on shares of Magnum Ice Cream in a report on Thursday, June 25th. Morgan Stanley reissued an "overweight" rating on shares of Magnum Ice Cream in a research note on Monday, June 29th. Zacks Research upgraded Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 5th. BNP Paribas Exane cut Magnum Ice Cream to a "neutral" rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded Magnum Ice Cream from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, June 16th.

Hedge Funds Weigh In On Magnum Ice Cream

Several institutional investors have recently modified their holdings of MICC. UBS Group AG acquired a new position in Magnum Ice Cream during the fourth quarter valued at approximately $97,064,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Magnum Ice Cream in the fourth quarter worth $5,807,000. Generali Asset Management SPA SGR bought a new position in shares of Magnum Ice Cream during the fourth quarter worth $1,644,000. Ruffer LLP bought a new position in shares of Magnum Ice Cream during the fourth quarter worth $5,398,000. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at $3,156,000.

Magnum Ice Cream Trading Down 1.6%

Shares of NYSE:MICC opened at $18.20 on Thursday. Magnum Ice Cream has a one year low of $12.94 and a one year high of $19.93. The business's 50 day simple moving average is $17.54. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 5.23.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.41 earnings per share for the quarter. The business had revenue of $2.68 billion for the quarter. Research analysts forecast that Magnum Ice Cream will post 1.09 EPS for the current fiscal year.

Magnum Ice Cream Company Profile

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.

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