Kraft Reports Adjusted Earnings of $0.57 vs $0.56 Estimate

After the US market closed today, Kraft KFT reported adjusted EPS that outpaced analyst estimates by $.01, or 2%. The producer of packaged foods attributes its EPS growth to increasing revenues from emerging markets. This quarter's adjusted earnings of $0.57 represent an increase from $0.52 in the same quarter last year. Last year's adjusted earnings of $0.52 exceeded analysts' consensus estimate by $0.05 or 11%. Additionally, Kraft offers a dividend yield of 2.93%.

As of 4:42pm, Kraft shares were trading at $39.16, $0.43 lower than today's $39.59 closing price. Since the beginning of this business week, the shares have traded near their 52-week high of $39.99. To read more about why Kraft reached this 52-week high, see a recent article posted by MSNBC. Kraft's competitors include J&J Snack Foods JJSF and General Mills GIS. Looking forward, the mean of analyst price targets for Kraft sits at $42.59.

Disclosure: At the time of this writing, I did not own shares of any companies mentioned in this post.