Associated British Foods (LON:ABF) Shares Pass Below Fifty Day Moving Average of $2,430.34

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Shares of Associated British Foods plc (LON:ABF) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2,430.34 and traded as low as $2,339.00. Associated British Foods shares last traded at $2,350.00, with a volume of 686,398 shares traded.

A number of research firms recently issued reports on ABF. UBS Group set a $54.00 price objective on shares of Westlake Chemical and gave the stock a “sell” rating in a research report on Tuesday, July 2nd. Shore Capital reiterated a “house stock” rating on shares of Global Ports in a research report on Thursday, July 4th. JPMorgan Chase & Co. set a $60.00 price objective on shares of Bayerische Motoren Werke and gave the stock a “sell” rating in a research report on Monday, April 8th. Liberum Capital reiterated a “hold” rating on shares of Daily Mail and General Trust P L C in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group restated a “hold” rating on shares of COMPASS GRP PLC/S in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of GBX 2,896.69 ($37.85).

The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 8.60. The business’s 50-day moving average is GBX 2,427.34. The firm has a market cap of $18.60 billion and a PE ratio of 20.29.

Associated British Foods (LON:ABF) last announced its quarterly earnings results on Wednesday, April 24th. The company reported GBX 61.10 ($0.80) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of GBX 62 ($0.81) by GBX (0.90) (($0.01)). Analysts forecast that Associated British Foods plc will post 14911.2463312 earnings per share for the current year.

The firm also recently declared a dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 6th were given a GBX 12.05 ($0.16) dividend. This represents a yield of 0.47%. The ex-dividend date was Thursday, June 6th. Associated British Foods’s dividend payout ratio (DPR) is currently 0.39%.

About Associated British Foods (LON:ABF)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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