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Jefferies Financial Group Research Analysts Cut Earnings Estimates for Nestlé S.A. (OTCMKTS:NSRGY) – MarketBeat

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Nestlé S.A. (OTCMKTS:NSRGYGet Rating) – Research analysts at Jefferies Financial Group cut their FY2023 earnings per share estimates for Nestlé in a research report issued to clients and investors on Wednesday, August 3rd. Jefferies Financial Group analyst M. Deboo now expects that the company will earn $5.18 per share for the year, down from their prior forecast of $5.28. The consensus estimate for Nestlé’s current full-year earnings is $4.82 per share. Jefferies Financial Group also issued estimates for Nestlé’s FY2024 earnings at $5.55 EPS and FY2025 earnings at $5.93 EPS.
NSRGY has been the topic of a number of other reports. Sanford C. Bernstein lowered Nestlé from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 19th. Morgan Stanley lowered Nestlé from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 28th. Royal Bank of Canada increased their price target on Nestlé from CHF 98 to CHF 100 and gave the company a “sector perform” rating in a research report on Friday, July 29th. Societe Generale reduced their price objective on Nestlé from CHF 135 to CHF 123 in a research note on Thursday, June 23rd. Finally, UBS Group upped their price objective on Nestlé from CHF 140 to CHF 142 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.29.

Nestlé Stock Down 0.4 %

Shares of OTCMKTS:NSRGY opened at $121.65 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.68. Nestlé has a twelve month low of $106.67 and a twelve month high of $141.95. The stock’s 50 day moving average is $117.09 and its 200-day moving average is $123.86.

Hedge Funds Weigh In On Nestlé

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Private Capital Group LLC grew its position in Nestlé by 2.6% during the 2nd quarter. Private Capital Group LLC now owns 3,560 shares of the company’s stock worth $414,000 after acquiring an additional 89 shares during the last quarter. Resources Management Corp CT ADV grew its position in Nestlé by 2.8% during the 4th quarter. Resources Management Corp CT ADV now owns 3,675 shares of the company’s stock worth $516,000 after acquiring an additional 100 shares during the last quarter. Inverness Counsel LLC NY grew its position in shares of Nestlé by 4.5% in the 2nd quarter. Inverness Counsel LLC NY now owns 2,361 shares of the company’s stock worth $275,000 after buying an additional 101 shares during the last quarter. Palladium Partners LLC grew its position in shares of Nestlé by 0.9% in the 1st quarter. Palladium Partners LLC now owns 11,462 shares of the company’s stock worth $1,491,000 after buying an additional 105 shares during the last quarter. Finally, Avity Investment Management Inc. grew its position in shares of Nestlé by 3.3% in the 1st quarter. Avity Investment Management Inc. now owns 3,875 shares of the company’s stock worth $504,000 after buying an additional 125 shares during the last quarter. 0.98% of the stock is currently owned by institutional investors.

Nestlé Company Profile

(Get Rating)
Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone Europe, Middle East and North Africa; Zone Americas; and Zone Asia, Oceania and sub-Saharan Africa segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Nestle L'atelier, Nestle Toll House, Milkybar, Smarties, Quality Street, Aero, Garoto, Orion, and Cailler brands.

Further Reading

Earnings History and Estimates for Nestlé (OTCMKTS:NSRGY)
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