Categories Earnings, Retail

Earnings Preview: Analysts expect Coca-Cola to hit $50 in third quarter

Beverage giant Coca-Cola (KO) is scheduled to announce its quarterly earnings results before the market opens on October 30. The Street now expects The Coca-Cola Company to post earnings of about $0.55 per share for the quarter.

For the 21 analysts covering the stock, the higher end of the estimate runs to $0.60 a share while the lower end of EPS estimate is $0.51 per share. Investors will be looking to see how the actual results will compare with the consensus. Last years same quarter, the beverage company posted just $0.50 per share in earnings.

Revenue is expected to be about $8.16 billion on an average. Analysts also expect the stock to hit $50.93 during the 52 weeks, with a minimum target estimate at $45 and maximum at $61.

Last quarter, the company posted its three-month earnings of $0.61 a share for revenue of $8.9 billion on July 25. The Coca-Cola Company had a return on equity of 40.68% and a net margin of 7.18%, while business revenue was down 8.3% year-over-year.

 

Coca-Cola also recently announced a quarterly dividend of $0.39 a share on December 14 for shareholders of record on November 30, bringing the dividend payout ratio to 81.68%.

The ratings seem to be mixed bag, though, with HSBC reissuing a BUY on a PT of $61.00 in August. Around the same time, Morgan Stanley retained its NEUTRAL rating on a $49.00 price target. Jefferies, too, maintained NEUTRAL on a $48 PT, while JPMorgan looks at a target of $50 with the same rating.

 

 

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top