[PRNewswire] Kellogg Company (NYSE:K) announced it expects to acquire an 85.93% stake in Bisco Misr based upon the number of shares tendered to the company through the Egyptian Stock Exchange as of the close of Kellogg’s Mandatory Tender Offer yesterday.
Bisco Misr is the number one packaged biscuits company in Egypt. Headquartered in Cairo, Bisco Misr is a publicly-held company listed on the Egyptian Exchange. One of the most recognized baked goods companies in Egypt, Bisco Misr offers such highly popular brands as Bisco Luxe, Datto, Chico Chico and Bisco Wafers. With approximately 3,300 employees and three manufacturing facilities, Bisco Misr has a strong history in the Egyptian market dating back to 1957. To view the full article click here.
Kellogg Company (K), On 10/30/2014, K reported 3 quarter 2014 earnings of $0.94 per share. This result was in-line with the consensus of the 15 analysts following the company and missed last year’s 3 quarter results by 1.05%. The next confirmed earnings announcement is expected on 02/12/2015.
K’s PE ratio is among the lowest of any stock in the Food Processing industry and signals that investors have not been willing to pay a premium for this company’s business prospects. Additionally, during the past year, earnings growth has outpaced its historical five year growth rate.
Kellogg Company (K)‘s PE ratio is among the lowest of any stock in the Semiconductors industry and signals that investors have not been willing to pay a premium for this company’s business prospects. Additionally, during the past year, earnings growth has outpaced its historical five year growth rate.
In terms of ratings, there are fifteen analysts that cover the stock which have provided Q4 2014 earnings per share estimates. The consensus anticipated number for the upcoming quarter is $0.93. The highest estimate is $0.98 while the lowest is $0.91. The company has a one year EPS growth rate of 84.46% and a five year EPS growth rate of 10.67%.
About Kellogg Company
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. As of February 26, 2013, these products were manufactured by the Company in 18 countries and marketed in more than 180 countries. Kellogg also market cookies, crackers, crisps, and other convenience foods, under brands, such as Kellogg’s, Keebler, Cheez-It, Murray, Austin and Famous Amos, to supermarkets in the United States. The Company’s cereal products are generally marketed under the Kellogg’s name and are sold to the grocery trade through direct sales forces for resale to consumers. Effective June 1, 2012, Procter & Gamble Co announced that it has completed the sale of its Pringles business to Kellogg.