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News Breaks
January 16, 2013
10:53 EDTMJNMead Johnson falls after analyst cuts stock to Neutral
Pediatric nutrition company Mead Johnson (MJN) is retreating after Credit Suisse analyst Robert Moskow downgraded the stock to Neutral from Outperform in a note to investors earlier today. Moskow reduced his 2013 sales growth forecast for the company to 6.7% from 8%. According to the analyst, 0.6 percentage points of the cut was triggered by "lingering competitive intensity" in the Chinese pediatric nutrition market, and a slower than expected rollout of the company's products into new Chinese cities. Another percentage point of the estimate reduction was due to Mead Johnson's cancellation of a contract, the analyst wrote. Moreover, the company's new CEO has called 2013 a "reinvestment year," possibly indicating that the company is facing tough problems this year, according to Moskow, who expects the company to provide lower than expected 2013 earnings per share guidance. In mid-morning trading, Mead Johnson slid $1.90, or 2.74%, to $67.34.
News For MJN From The Last 14 Days
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November 18, 2014
08:43 EDTMJNMead Johnson sees FY14 adjusted EPS $3.64-$3.72, consensus $3.72
Says excess cash flow and borring capacity provides flexibility to grow through M&A, return cash to shareholders via dividends and buybacks. Says will consider incremental demand-generation investments in 2015 in light of anticipated gross margin improvement. Sees long-term earnings growth at or above the rate of revenue growth. Sees revenue growth within the top quartile of peer group. Sees dividend growth at or above the rate of EPS growth. Comments from slides that will be presented at the Morgan Stanley Global Consumer Conference.
07:30 EDTMJNMorgan Stanley to hold a conference
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November 12, 2014
06:37 EDTMJNCiti says Hershey, TreeHouse, Mead still top picks in Food
After meeting with ten U.S. Food Manufacturers, Citigroup says Hershey (HSY), TreeHouse (THS) and Mead Johnson (MJN) remain its top picks in the space. Citi favors domestic companies, but says the consumer environment for food remains difficult with volume growth "hard to come by" in the U.S. The firm believes the expected uptick in U.S. food growth is failing to materialize.
November 11, 2014
12:34 EDTMJNMead Johnson management to meet with William Blair
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