WK Kellogg (KLG) Set to Announce Quarterly Earnings on Thursday

WK Kellogg (NYSE:KLG - Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect WK Kellogg to post earnings of $0.26 per share for the quarter. WK Kellogg has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company's earnings conference call can do so using this link.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The business had revenue of $672.00 million during the quarter, compared to analyst estimates of $671.50 million. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts expect WK Kellogg to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

WK Kellogg Price Performance

Shares of NYSE KLG traded down $0.41 during midday trading on Thursday, reaching $16.62. The company's stock had a trading volume of 717,470 shares, compared to its average volume of 1,029,968. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. WK Kellogg has a fifty-two week low of $9.82 and a fifty-two week high of $24.63. The business's 50 day moving average price is $17.55 and its two-hundred day moving average price is $18.35. The company has a market cap of $1.43 billion and a P/E ratio of 11.87.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.85%. WK Kellogg's payout ratio is 45.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of WK Kellogg from $22.00 to $18.00 and set a "hold" rating for the company in a research report on Tuesday, July 23rd. Barclays lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. lowered their price objective on shares of WK Kellogg from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Finally, Bank of America downgraded shares of WK Kellogg from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $24.00 to $17.00 in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, WK Kellogg currently has a consensus rating of "Hold" and an average target price of $18.50.

About WK Kellogg

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.