reports
- Alyssa Gammoudy
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Nadège Tillier
- Suvi Platerink Kosonen
- Timothy Rahill
- Ioannis Pontikis
Morningstar | Nestle's CMD in Line With Midterm Targets Unchanged; Sha...
Nestle's CMD this year was hosted at its U.S. headquarters in Arlington and shed more light on its 2020 midterm targets (mid-single-digit organic sales growth and EBIT margin of 17.5%-18.5%) with the high-growth categories (pet, nutrition, coffee, health, and waters) being the focus. Nestle also announced the consolidation of the frozen pizza and ice cream distribution from a direct store delivery (DSD) model to warehouse distribution, which will create cost synergies, reduce capital intensity, ...
- Ioannis Pontikis
Nestle's CMD in Line With Midterm Targets Unchanged; Shares Slightly R...
Nestle's CMD this year was hosted at its U.S. headquarters in Arlington and shed more light on its 2020 midterm targets (mid-single-digit organic sales growth and EBIT margin of 17.5%-18.5%) with the high-growth categories (pet, nutrition, coffee, health, and waters) being the focus. Nestle also announced the consolidation of the frozen pizza and ice cream distribution from a direct store delivery (DSD) model to warehouse distribution, which will create cost synergies, reduce capital intensity, ...
- João Calado
- Nuno Vaz
BiG Research Flash Note: Nestle
Nestlé is a Swiss multinational company belonging to the Food and Beverage sector.Founded in 1866 it is, in the present, one of the largest food company in the world andone of the biggest companies in general. It is headquartered in Vevey, Switzerland. Itemploys more than 300000 people. As most companies in its sector, its success is due tothe extent of its offering of products. It owns over 2000 different brands, spread throughmore than 150 countries, and just last year it created over 1300 new...
- Ioannis Pontikis
Morningstar | Nestle Reports in Line First-Quarter Sales, Confirms Gui...
Nestle reported first-quarter sales with organic growth of 3.4% (versus 3.5% organic growth in our model for the year) in line with our full-year expectations. Management confirmed its fiscal 2019 guidance for continued improvement in organic sales growth and underlying trading operating margin toward 2020 targets of 17.5%-18.5%. Our full-year expectations are close to consensus (64 basis points margin improvement and 3.5% organic growth versus 60 basis points and 3.6% for the consensus, respect...
- Ioannis Pontikis
Nestle Reports in Line First-Quarter Sales, Confirms Guidance; Shares ...
Nestle reported first-quarter sales with organic growth of 3.4% (versus 3.5% organic growth in our model for the year) in line with our full-year expectations. Management confirmed its fiscal 2019 guidance for continued improvement in organic sales growth and underlying trading operating margin toward 2020 targets of 17.5%-18.5%. Our full-year expectations are close to consensus (64 basis points margin improvement and 3.5% organic growth versus 60 basis points and 3.6% for the consensus, respect...
- Ioannis Pontikis
Morningstar | NSRGY Updated Forecasts and Estimates from 01 Mar 2019
Although Nestle’s efforts to reposition itself as a nutrition, health, and wellness company have largely been timely, the company has been struggling lately to reach its benchmark “Nestle Model†organic growth rate of 5%-6%.While global consumer products companies deploy their deeply grounded supply and distribution networks to market products adapted to local markets and tastes, we do not believe that Nestle has successfully translated its unparalleled research and development investments...
- Ioannis Pontikis
Morningstar | Nestle Well-Positioned to Achieve Midterm Targets After ...
Although Nestle’s efforts to reposition itself as a nutrition, health, and wellness company have largely been timely, the company has been struggling lately to reach its benchmark “Nestle Model†organic growth rate of 5%-6%.While global consumer products companies deploy their deeply grounded supply and distribution networks to market products adapted to local markets and tastes, we do not believe that Nestle has successfully translated its unparalleled research and development investments...
- Ioannis Pontikis
Nestle Well-Positioned to Achieve Midterm Targets After In-Line 2018
Nestle reported full-year results for fiscal-year 2018, with organic growth of 3.0% (2.5% volume growth and 0.5% pricing) in line with our expectations (2.3% volume growth 0.7% pricing respectively) and consensus. Trading operating profit margin improved 50 basis points to 17% (versus 46 basis points in our model). Management expects continued improvement in organic sales growth for fiscal 2019 and further progress in the underlying operating profit or UTOP margin, in line with its 17.5%-18.5%Â ...
- Ioannis Pontikis
Morningstar | Nestle Well-Positioned to Achieve Mid-Term Targets After...
Nestle reported full-year results for fiscal-year 2018, with organic growth of 3.0% (2.5% volume growth and 0.5% pricing) in line with our expectations (2.3% volume growth 0.7% pricing respectively) and consensus. Trading operating profit margin improved 50 basis points to 17% (versus 46 basis points in our model). Management expects continued improvement in organic sales growth for fiscal 2019 and further progress in the underlying operating profit or UTOP margin, in line with its 17.5%-18.5%Â ...
- Ioannis Pontikis
Nestle Well-Positioned to Achieve Mid-Term Targets After in Line FY 20...
Nestle reported full-year results for fiscal-year 2018, with organic growth of 3.0% (2.5% volume growth and 0.5% pricing) in line with our expectations (2.3% volume growth 0.7% pricing respectively) and consensus. Trading operating profit margin improved 50 basis points to 17% (versus 46 basis points in our model). Management expects continued improvement in organic sales growth for fiscal 2019 and further progress in the underlying operating profit or UTOP margin, in line with its 17.5%-18.5%Â ...
- Ioannis Pontikis
Morningstar | Nestle on Track After 3Q Sales Update as Guidance Is Con...
Nestle reported nine-month sales for fiscal 2018, with organic growth of 2.8% (2.3% volume growth and 0.5% pricing) broadly in line with our expectations. We maintain our wide moat rating and EUR 81 per share ($84 per ADR) fair value estimate. Management reiterated guidance of around 3% organic sales growth for fiscal 2018 and progress toward underlying operating profit margin improvement in line with its 17.5%-18.5%Â target for fiscal 2020. Growth overall was broadly in line with our full-year...
- Ioannis Pontikis
Nestle on Track After 3Q Sales Update as Guidance Is Confirmed; Shares...
Nestle reported nine-month sales for fiscal 2018, with organic growth of 2.8% (2.3% volume growth and 0.5% pricing) broadly in line with our expectations. We maintain our wide moat rating and EUR 81 per share ($84 per ADR) fair value estimate. Management reiterated guidance of around 3% organic sales growth for fiscal 2018 and progress toward underlying operating profit margin improvement in line with its 17.5%-18.5%Â target for fiscal 2020. Growth overall was broadly in line with our full-year ...
- Ioannis Pontikis
Morningstar | Nestle’s Ingrained Supply Chain and Unmatched Category...
After revisiting our estimates and accounting for fiscal 2018 interim results, we are raising our valuation for Nestle to CHF 81 from CHF 79. We reaffirm our wide moat rating supported by its entrenched position with retailers, a durable cost edge, and signs of monetisable brand equity in certain categories. Our estimate implies 2019 multiples of 21 times earnings and 14 times enterprise value/EBITDA. We now expect a 4% top-line CAGR and a 17.7% average operating margin over the next five years,...
- Ioannis Pontikis
Morningstar | Nestle’s Ingrained Supply Chain and Unmatched Category...
After revisiting our estimates and accounting for fiscal 2018 interim results, we are raising our valuation for Nestle to CHF 81 from CHF 79. We reaffirm our wide moat rating supported by its entrenched position with retailers, a durable cost edge, and signs of monetisable brand equity in certain categories. Our estimate implies 2019 multiples of 21 times earnings and 14 times enterprise value/EBITDA. We now expect a 4% top-line CAGR and a 17.7% average operating margin over the next five years,...
- Ioannis Pontikis
Nestle’s Ingrained Supply Chain and Unmatched Category and Geographi...
After revisiting our estimates and accounting for fiscal 2018 interim results, we are raising our valuation for Nestle to CHF 81 from CHF 79. We reaffirm our wide moat rating supported by its entrenched position with retailers, a durable cost edge, and signs of monetisable brand equity in certain categories. Our estimate implies 2019 multiples of 21 times earnings and 14 times enterprise value/EBITDA. We now expect a 4% top-line CAGR and a 17.7% average operating margin over the next five years,...
- Philip Gorham
Morningstar | Trends Unchanged for Nestle in 2Q; Shares Fairly Valued
Nestle remains on track to meet our full-year forecast of almost 2% reported sales growth after a second quarter in which trends remained unchanged from the first quarter. We are unlikely to alter our CHF 79 fair value estimate by more than the impact of the time value of money, and we currently consider Nestle to be fairly valued. Although Nestle appears to be suffering from the low-growth environment more than most of its peers, the company's wide economic moat is based on its supply-chain ent...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.