Net income for the quarter is estimated to increase by 8% to $74.50 billion with sales surging 9% to $975.50 million, as per analysts polled by Bloomberg. Earnings per share are forecast at 58 cents for the quarter, as compared to 53 cents in the prior-year quarter. For the same period, operating profit is seen rising to $131.5 million from $122 million. Meanwhile, dividend per share is seen rising to 21 cents from 20 cents in the year-ago period.
In late July, the company paid a quarterly cash dividend of 21 cents per common share. Currently, the company has a dividend yield of 4.4%Of the 10 analysts covering the stock, 50% recommend a buy, while 40% suggest a hold. Analysts polled by Bloomberg expect the stock to gain almost 46.6% to $27.60 from current levels over the next 12 months.