Heineken's Lack of Positive Data Expected to Drag Shares -- Market Talk

Dow Jones07-29

0655 GMT - Heineken's 1H performance was slightly below expectations, with 2Q figures and 2024 outlook also not as good as hoped, Citi analysts say in a note. The brewer's EPS for the first half slightly beat consensus, while 2Q organic beer volumes were below consensus in all divisions, they say. The narrowed organic EBIT growth guidance range to 4%-8%, from a low-to-high single digit, doesn't surprise given that market consensus already stands at 8.2%, they say. However, the removal of the high-end of the previous high-single-digit target could be seen as slightly disappointing. "We expect little change to 2024 consensus earnings estimates today. These are slightly disappointing results, and the combination of negative recent trading momentum and absence of positive optionality means we expect the shares to drift lower," the analysts say. (michael.susin@wsj.com)

(END) Dow Jones Newswires

July 29, 2024 02:55 ET (06:55 GMT)

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The brewer's EPS for the first half ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HEINY","symbol_name":"Heineken N.V.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2455681483","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2455681483","pubTimestamp":1722236100,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0655 GMT - Heineken's 1H performance was slightly below expectations, with 2Q figures and 2024 outlook also not as good as hoped, Citi analysts say in a note. 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