Mondelez International (NASDAQ:MDLZ – Get Free Report) announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th, RTT News reports. The company plans to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
Mondelez International Stock Up 2.2 %
Shares of NASDAQ MDLZ traded up $1.37 during mid-day trading on Wednesday, reaching $63.12. The company had a trading volume of 12,900,681 shares, compared to its average volume of 6,905,494. Mondelez International has a 52-week low of $60.33 and a 52-week high of $77.20. The stock has a market cap of $84.40 billion, a P/E ratio of 22.66, a PEG ratio of 2.84 and a beta of 0.53. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $67.54 and a two-hundred day simple moving average of $68.76.
Mondelez International (NASDAQ:MDLZ – Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. Sell-side analysts predict that Mondelez International will post 3.48 earnings per share for the current year.
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Mondelez International Company Profile
Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.
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