Glanbia (CDI) (GLB)

Sector:

Food

  14.34
   
  • Change Today:
     -0.14
  • 52 Week High:  19.2
  • 52 Week Low:  13.6
  • Currency: Euro
  • Shares Issued: 259.12m
  • Volume: 20,945
  • Market Cap:  3,715.85m
  • RiskGrade: 168
  • Beta: 0.18

Berenberg lifts targets for Glanbia on margin growth

By Benjamin Chiou

Date: Monday 21 Aug 2023

LONDON (ShareCast) - (Sharecast News) - Berenberg has raised its target price for Glanbia after the Irish performance nutrition and food manufacturer's forecast-beating interim results last week, as strong margins make up for declining volumes.

The broker lifted its target from €16.30 to €17.40, keeping its 'buy' rating for the stock, which was up 0.5% at €15.10 on Monday morning.

Glanbia reported on Wednesday that first-half volumes were down 2% year-on-year, much better than the 4.2% decline expected due to a better-than-estimated performance in Nutritional Solutions. Margins rose 110 basis points to 7.2%, ahead of the consensus forecast of 6.6%.

One sore spot was the SlimFast division, where the year-on-year sales decline worsened from -28.3% in the first quarter to -33.8% in the second.

"Despite brand investments and retailer support for the brand refresh, the SlimFast brand - and the diet category overall - have not regained momentum and some US retailers are now reducing category shelf space in the short term, which will reduce distribution for SlimFast into next year," Berenberg said.

Nevertheless, Glanbia lifted its guidance for margins in its Performance Nutrition department, as a strong performance in higher-margin brands like Optimum Nutrition and Isopure offsets weakness in SlimFast.

"We think that Glanbia has a high level of protection from private label, due to its exposure to sports nutrition, weight management and vitamins. While not immune to brand downtrading, sports nutrition users in particular exhibit above-average levels of brand loyalty."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Glanbia (CDI) Market Data

Currency Euro
Share Price   14.34
Change Today   -0.14
% Change -0.97 %
52 Week High  19.2
52 Week Low  13.6
Volume 20,945
Shares Issued 259.12m
Market Cap  3,715.85m
Beta 0.18
RiskGrade 168

Glanbia (CDI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.69% below the market average86.69% below the market average86.69% below the market average86.69% below the market average86.69% below the market average
40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average
Price Trend
20.41% above the market average20.41% above the market average20.41% above the market average20.41% above the market average20.41% above the market average
17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average
Income
82.93% below the market average82.93% below the market average82.93% below the market average82.93% below the market average82.93% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Growth
34.65% below the market average34.65% below the market average34.65% below the market average34.65% below the market average34.65% below the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average

What The Brokers Say

Strong Buy 2
Buy 5
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Glanbia (CDI) Dividends

  Latest Previous
  Interim Final
Ex-Div 22-Aug-24 21-Mar-24
Paid 04-Oct-24 03-May-24
Amount 15.64¢ 21.21¢

Trades for 06-Dec-2024

Time Volume / Share Price
17:13 775 @  14.02
17:13 305 @  14.10
17:13 1,004 @  13.97
17:08 240 @  14.34
16:30 239 @  13.85

Glanbia (CDI) Key Personnel

CEO Hugh McGuire

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