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

WK Kellogg (NYSE:KLG) is set to announce its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.26 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The business’s revenue was down 4.0% on a year-over-year basis. 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 Trading Down 1.6 %

Shares of KLG stock opened at $16.46 on Tuesday. The stock’s fifty day moving average price is $17.49 and its two-hundred day moving average price is $18.25. The company has a market cap of $1.41 billion and a PE ratio of 11.76. WK Kellogg has a fifty-two week low of $10.11 and a fifty-two week high of $24.63. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio is presently 45.71%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Bank of America downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $24.00 to $17.00 in a report on Wednesday, July 10th. Stifel Nicolaus cut their price objective on WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays cut their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company 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.