With a market cap of $87.5 billion, Mondelez International, Inc. (MDLZ) is a global leader in snacks and beverages, offering a wide range of products across various regions worldwide based in Chicago, Illinois. The company is expected to announce its fiscal Q2 earnings results on Thursday, Jul. 25.
Ahead of the event, analysts expect MDLZ to report a profit of $0.78 per share, up 2.6% from $0.76 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in each of the last four quarterly reports. Steady demand for its pricey products, such as chocolates and salted crackers, helped the company surpass the consensus EPS estimate by nearly 8% in the most recent quarter.
For fiscal 2024, analysts expect MDLZ to report EPS of $3.48, up 9.1% from $3.19 in fiscal 2023.
MDLZ has dipped 9.4% over the past 52 weeks, trailing behind both the S&P 500 Index's ($SPX) 26.8% rise and the S&P 500 Cons Staples Sector SPDR's (XLP) 5% increase over the same period.
Mondelez International's shares initially rose marginally on Jan. 30 after reporting a rise in Q4 sales and meeting revenue expectations. However, concerns over softer demand following significant price hikes, particularly in North America, led to a 1.4% decline in shares during the subsequent trading session. In addition, despite beating revenue and EPS expectations, the stock dropped following its Q1 earnings report on Apr. 30 primarily due to concerns over declining sales volumes, which fell 2.1% year-over-year.
Analysts' consensus rating on Mondelez International stock is bullish, with a "Strong Buy" rating overall. Among 21 analysts covering the stock, 19 recommend a "Strong Buy," one suggests a "Moderate Buy," and one advises a "Hold." This consensus is more bullish than three months ago, with 18 analysts suggesting a "Strong Buy."
The average analyst price target for MDLZ is $80.30, indicating a potential upside of 23.1% from the current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
