Pay attention to the following consumer staples stocks approaching critical price targets: PepsiCo, Estee Lauder, The Hain Celestial Group, Inc. are the ones to watch.
A recap of yesterday's session: Leading equity indices in the US declined as Nasdaq slipped 1.96% and closed at 11,400. S&P 500 shed 1.3% and closed at 4,017.77.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Let's review some consumer staples stocks and their price targets.
PepsiCo's price target: $168.59 | Last close: $169.48 | Daily range: $169.14 – $171.46 | Off hours: $169.48
After ending yesterday at $169.62, the renowned fizzy drink supplier recovers back to $169.48 after dipping down to $169.14 earlier today. While mostly sideways today, PepsiCo is on a 15 day bearish trend during which it lost $11.48. Daily trading volume (5.19 million shares) increased, making up 119% of the 21-day average (4.35 million).
This year has been a gloomy one for the renowned fizzy drink supplier after trading as high as $185.9 and going on to lose 5.53% of its value. The company's market cap currently stands at $233.49 billion with an average daily trading volume of 4.35 million shares. So far this year, it has been doing worse than the Nasdaq by 14.19%. PepsiCo last reported revenue of $21.97 billion with an EPS of $1.97.
A convincing break of this target could pave the way for deeper losses.
PepsiCo disclosed a quarterly dividend of $1.15 per share on Thursday, November 17th that was paid on Friday, January 6th to all shareholders of record up until Friday, December 2nd. Based on current prices, the company's decision thereby provides PepsiCo investors with an annual dividend yield of 2.71%.
Estee Lauder's price target: $266.74 | Last close: $271.21 | Daily range: $268.18 – $271.86 | Off hours: $271.21
A persuasive break of this target could lead to higher losses.
Estee Lauder has been losing ground for 4 days, shedding a total of 2.15% of its value. a slight improvement can be seen from yesterday's session: after ending yesterday at $270.79, the cosmetics giant recovers back to $271.21 after dipping down to $268.18 earlier today.
Estee Lauder is scheduled to announce earnings results Thursday. The consensus EPS estimate is 1.29 and the consensus revenue estimate is $4.57 billion.
Hain Celestial's Price target: $20.3 | Last close: $19.94 | Daily range: $19.38 – $20.2 | Off hours: $19.94
After closing at $19.82 on Friday, Hain Celestial maintained a strong bullish bias that helped the stock close higher at $19.94 yesterday. However, market bears ensured the the US natural food supplier topped out at $20.2 and that by the end of the session, the market had marked out a distinct $19.38 to $20.2 range. Hain Celestial has increased a total of $1.2 over the past 4 days, with yesterday's session contributing to the uptrend. Daily trading volume (1.24 million shares) was higher than the current multiday average of 789,654.
This year has been a bright one for the US natural food supplier after trading as low as $15.37 and going on to appreciate by 23.8% year to date. Hain Celestial has a market cap of $1.78 billion with an average daily volume of 789,654 shares.
Hain Celestial's run now faces a challenge at $20.3, which is only 36 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Hain Celestial is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 0.14 and the consensus revenue estimate is $459.14 million.