Analysts Anticipate Industrias Bachoco, S.A.B. de C.V. (IBA) to Post $0.81 EPS

Shares of Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price target of $68.00 for the company and are forecasting that the company will post $0.81 EPS for the current quarter, according to Zacks. Zacks has also assigned Industrias Bachoco an industry rank of 254 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research raised Industrias Bachoco from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research report on Saturday, April 21st.

A number of hedge funds have recently bought and sold shares of IBA. Royce & Associates LP grew its position in Industrias Bachoco by 5.2% during the second quarter. Royce & Associates LP now owns 216,806 shares of the company’s stock valued at $12,495,000 after acquiring an additional 10,631 shares during the period. Sarasin & Partners LLP grew its position in Industrias Bachoco by 10.0% during the second quarter. Sarasin & Partners LLP now owns 110,000 shares of the company’s stock valued at $6,353,000 after acquiring an additional 10,000 shares during the period. Deutsche Bank AG purchased a new stake in Industrias Bachoco during the fourth quarter valued at about $235,000. Campbell & CO Investment Adviser LLC purchased a new stake in Industrias Bachoco during the first quarter valued at about $223,000. Finally, Russell Investments Group Ltd. grew its position in Industrias Bachoco by 388.4% during the second quarter. Russell Investments Group Ltd. now owns 2,989 shares of the company’s stock valued at $174,000 after acquiring an additional 2,377 shares during the period. 3.65% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:IBA traded down $2.54 during midday trading on Tuesday, reaching $58.43. The company’s stock had a trading volume of 9,618 shares, compared to its average volume of 6,483. The company has a market cap of $3.05 billion, a P/E ratio of 10.99 and a beta of 0.24. The company has a quick ratio of 2.52, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. Industrias Bachoco has a 1 year low of $53.00 and a 1 year high of $67.61.

Industrias Bachoco (NYSE:IBA) last announced its quarterly earnings data on Monday, July 23rd. The company reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.06). Industrias Bachoco had a net margin of 8.69% and a return on equity of 14.54%. The business had revenue of $815.90 million during the quarter, compared to analysts’ expectations of $740.25 million. sell-side analysts expect that Industrias Bachoco will post 4.45 earnings per share for the current fiscal year.

The company also recently declared a semiannual dividend, which was paid on Monday, July 16th. Shareholders of record on Thursday, July 5th were given a dividend of $0.4365 per share. This represents a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, July 3rd. This is an increase from Industrias Bachoco’s previous semiannual dividend of $0.43. Industrias Bachoco’s payout ratio is 17.44%.

Industrias Bachoco Company Profile

Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. It primarily engages in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products. The company also produces and distributes chicken, turkey, and beef value-added products, as well as medicines and vaccines for animal consumption; provides administrative and operating services; and elaborates and commercializes balanced animal feed and pet treats.

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