Kellogg Company - Insider selling
On 2024-03-05, the market expectations for Kellogg Company (K)'s earnings experienced a change as it heads towards its next results.
Earnings estimates play a role in assessing a company's ability to pay dividends, a crucial factor for income-focused investors Average EPS has been revised down to 0.85. Previously, it was 0.91. These figure are based on the prediction of 14 analysts.
The average quarterly EPS is placed at 0.85 for the period ending 31-03-2024 with the lower band at 0.75 and higher band at 0.91. When compared to the EPS of 1.1 from a year ago, the current estimate indicates an decrease of roughly -0.22700001. On the other hand lower band of revenue is expected to be at 3114270000 and the higher band at 3236000000. The average revenue is expected to come in at 3175250000. This is an decrease of about -0.19700001 from the revenue of 3953940000 from a year ago.
After such a decrease in estimates, investors generally aim to move quickly to either close existing positions or establish short positions before the next results.
The stock market saw transactions performed by K's insiders since 15-12-2023.
The prices at which the insider transactions happen often give an insight into the result and the potential price movement after the result.
There were no insider transactions on the buy side in contrast sales were executed at a weighted average price of 53.42. Before the earnings disclosure, insiders have been actively disposing of shares, suggesting the likelihood of negative earnings and subsequent price volatility.
As of 2024-03-13, analysts noted a change in the predicted threshold for K's stock price.
Analysts, in their research reports provide a range of maximum and minimum price projections for a given stock, which investors can draw on to guide their decisions.Analysts, through their exhaustive research reports, furnish investors with a spectrum of maximum and minimum price projections for a particular stock, aiding investors in making informed decisions. Collating insights from 17 industry insiders, K's price outlook is anticipated to range between 54.0 and 67.0, with the mean price expectation hovering around 58.47.
Technical Summary
The current price of 54.0 finds support at 53.47 and resistance at 54.83. The recent price move is approaching support.
The PSAR continues its bearish outlook and sets a level of resistance.
DISCLAIMER: We provide information and our musings based on events, but nothing on this site can be considered professional advice of any kind.
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