has had a difficult year, to say the least. The next update of the company's progress is expected soon when the results for the first quarter are announced. Kraft has not yet set an official date, although the company usually posts earnings for the first quarter in July or August.
Kraft shares (ticker: KHC) have fallen by 28.7% since the beginning of the year and by 51% after twelve months. The bonds fell slightly easier.
Here is a snapshot of Wall Street expectations and the recent past.
- Krafts' problems began in February, when gains were last reported. Not only was the results disappointing, the company also announced a dividend cut, a write-down of $ 15.4 billion on its Kraft and Oscar Mayer brands, and announced a Securities and Exchange Commission investigation, ahead of its previous report in November was carried out.
- News led to numerous downgrades by analysts, and some subsequent upgrades were not very optimistic.
- Krafts' problems were also an uncomfortable topic for
(BRK.B) Warren Buffett. The value of Berkshire's share of Kraft has more than halved from its highs, and the company's loss on investment led to rumors of a split with 3G Capital, which together with Berkshire triggered the company's acquisition in 2013 and merger with Heinz.
- In April, Kraft announced that its CEO will step down with effect from July 1 and will be replaced by Miguel Patricio, who faces numerous challenges.
- Last month, the company's stock had a slight weakness boosting when the delayed 10K filling showed no new bombshells.
- The Kraft share has had some difficulties for some time and has fallen by 64% in the last 3 years
S & P 500
has increased by 39%.
- Consensus estimates suggest that Kraft will earn 60 cents of $ 6.07 billion in revenue.
- Analysts are not too optimistic about Kraft before the report is released. There are only 2 buy ratings for the stock, though there are only 2 sell ratings. The lion's share of the analysts (78%) has a hold rating or a comparable rating. The average price target is $ 33.82. The stock fell to $ 30.68 on Monday
Dow Jones Industrial Average
rose by 0.1%.
- Krafts earnings per share fell short of analyst estimates over the past two quarters. The report for the quarter ending in March has been postponed.
Corrections and Additions: An earlier version of this report stated Kraft Kraft's revenue was scheduled for Wednesday, July 17. Quarterly Report data. This year's key date for the first quarter has not yet been decided.
Write to Teresa Rivas at [email protected]