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Citigroup Inc. Lowers its 2010-2012 EPS Forecasts on Kellogg Co. (C,K)

Written on Fri, 07/30/2010 - 10:25am
By Chip Brian

Citigroup Inc. (NYSE:C) has modified its EPS forecast on Kellogg Co. (NYSE:K) Friday, "given the promotional environment & Eggo situation, we are making modest reductions to our EPS forecast, but believe the stock already embeds significant negativity, way below our estimates," wrote Citigroup's David Driscoll.
Citigroup lowered its 2010 EPS forecast down $0.03 to $3.55; down $0.10 to $3.85 for 2011; and down $0.10 to $4.25 for 2012.
Citigroup has reiterated a Buy rating on the cereal maker.
SmarTrend alerted subscribers to take profits in Kellogg on June 25, 2010 at $52.69, since then the stock fell 7.2%.
Kellogg is currently below its 50-day moving average (MA) of $52.73 and below its 200-day MA of $52.98.
In the last five trading sessions, the 50-day MA has fallen 0.78% while the 200-day MA has remained constant.
Shares of the company are trading up 2.86% Friday morning at $49.32.


Company Information For: C

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