Kraft Heinz Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | July 31, 2024 02:55am

The Kraft Heinz Company (NASDAQ:KHC) is scheduled to release its financial results for the second quarter, before the opening bell on Wednesday, July 31.

Analysts expect the Pittsburgh, Pennsylvania-based company to report quarterly earnings at 74 cents per share, down from 79 cents per share in the year-ago period. Kraft Heinz expects to post revenue of $6.55 billion, compared to $6.81 billion a year earlier, according to data from Benzinga Pro.

On May 1, the company reported a first-quarter FY24 sales decline of 1.2% year-on-year to $6.411 billion, missing the analyst consensus estimate of $6.429 billion.

Kraft Heinz shares rose 1.3% to close at $33.84 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• B of A Securities analyst Bryan Spillane maintained a Buy rating and cut the price target from $42 to $38 on July 10. This analyst has an accuracy rate of 67%.
• Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and slashed the price target from $37 to $34 on June 27. This analyst has an accuracy rate of 67%.
• Piper Sandler analyst Michael Lavery maintained an Overweight rating and cut the price target from $42 to $41 on June 20. This analyst has an accuracy rate of 67%.
• Evercore ISI Group analyst David Palmer upgraded the stock from In-Line to Outperform and raised the price target from $40 to $42 on Dec. 11, 2023. This analyst has an accuracy rate of 61%.
• Bernstein analyst Alexia Howard upgraded the stock from Market Perform to Outperform with a price target of $40 on Nov. 14, 2023. This analyst has an accuracy rate of 63%.

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Posted In: KHC