Zacks: Brokerages Anticipate Coca-Cola European Partners PLC (NYSE:CCEP) to Announce $0.91 EPS

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Equities analysts expect that Coca-Cola European Partners PLC (NYSE:CCEP) will post earnings of $0.91 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Coca-Cola European Partners’ earnings, with estimates ranging from $0.90 to $0.92. Coca-Cola European Partners reported earnings of $0.88 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, October 24th.

On average, analysts expect that Coca-Cola European Partners will report full year earnings of $2.81 per share for the current year, with EPS estimates ranging from $2.79 to $2.84. For the next fiscal year, analysts forecast that the company will report earnings of $3.06 per share, with EPS estimates ranging from $3.01 to $3.09. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Coca-Cola European Partners.

Several equities analysts recently commented on CCEP shares. Deutsche Bank reissued a “buy” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Coca-Cola European Partners in a research note on Tuesday, October 15th. Zacks Investment Research downgraded shares of Coca-Cola European Partners from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Liberum Capital started coverage on shares of Coca-Cola European Partners in a research note on Thursday, September 19th. They issued a “buy” rating for the company. Evercore ISI reissued a “buy” rating and issued a $60.00 price objective on shares of Coca-Cola European Partners in a research note on Thursday, August 8th. Finally, Barclays set a $61.00 price objective on shares of Coca-Cola European Partners and gave the company a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $58.80.

Several hedge funds have recently added to or reduced their stakes in CCEP. Enterprise Financial Services Corp bought a new position in shares of Coca-Cola European Partners during the second quarter valued at $25,000. FTB Advisors Inc. bought a new position in Coca-Cola European Partners during the second quarter worth $25,000. Pearl River Capital LLC bought a new position in Coca-Cola European Partners during the second quarter worth $29,000. Crewe Advisors LLC bought a new position in Coca-Cola European Partners during the second quarter worth $37,000. Finally, Liberty Wealth Management LLC bought a new position in Coca-Cola European Partners during the second quarter worth $39,000. 28.47% of the stock is owned by hedge funds and other institutional investors.

NYSE:CCEP traded up $0.24 on Monday, hitting $50.70. The company had a trading volume of 56,339 shares, compared to its average volume of 1,123,100. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.02 and a beta of 0.38. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $53.58 and a two-hundred day moving average of $55.51. Coca-Cola European Partners has a 52 week low of $44.44 and a 52 week high of $58.94.

About Coca-Cola European Partners

Coca-Cola European Partners plc, together with its subsidiaries, produces, markets, distributes, and sells a range of nonalcoholic ready-to-drink beverages. The company offers sparkling flavors, energy drinks, juices, isotonics, and other drinks, as well as water. It provides its products primarily under the Coca-Cola, Fanta, and Sprite brands, as well as Coca-Cola Zero Sugar, Mezzo Mix, Schweppes, Royal Bliss, Fïnle, Monster, GLACÉAU Smartwater, Vio, Chaudfontaine, Fuze Tea, Honest Coffee, Oasis, Capri-Sun, Honest, and Tropico brands.

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