Stock Update (NYSE:YUM): Yum! Brands, Inc. Announces Proposed Notes Offering

[Business Wire] – Yum! Brands, Inc. today announced that certain subsidiaries that operate the Company’s KFC, Pizza Hut and Taco Bell businesses have commenced an offering of up to $2.3 billion aggregate principal amount of Senior Unsecured Notes in two tranches, with maturities in 2024 and 2026 . Read more on this. Yum! Brands, Inc. (YUM) , with a current value of $33.71B, began trading this morning at $82.53. Today, shares have traded between $82.27 and $83.02 per share and has traded between $64.58 and $93.33 over the past 12 months. YUM! (YUM) shares are currently priced at 22.51x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 23.05x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.84 per share annually in dividends, yielding 2.24%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $0.74 per share, which would be $0.05 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $3.67, which would be a $0.49 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.09 Billion. If reported, that would be a 0.32% decrease over the year-ago quarter. In terms of ratings, Credit Agricole downgraded YUM from Outperform to Underperform (Apr 13, 2016). Previously, Longbow Initiated YUM at to Buy. The average price target for YUM shares by the analysts covering the stock is $85.26, which is 3.31% above where the stock opened this morning. See more in (NYSE:YUM) Similar Articles: Company Update: Yum! Brands Inc (NYSE:YUM) – Yum! Brands Promotes David Gibbs to President and Chief Financial Officer Market Update: Yum! Brands Inc (NYSE:YUM) – Yum! Brands, Inc. to Present at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum and the Bank of America Merrill Lynch 2016 Consumer & Retail Technology Conference Company Update: Yum! Brands Inc (NYSE:YUM) – Factors of Influence in Today’s Market – Analyst Notes on General Motors, AbbVie, Yum! Brands and Philip Morris International