PepsiCo (NASDAQ:PEP) Releases FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 8.150- for the period, compared to the consensus EPS estimate of 8.150. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

Analyst Ratings Changes

Several equities research analysts have issued reports on PEP shares. Argus downgraded PepsiCo from a buy rating to a hold rating in a report on Wednesday, April 3rd. StockNews.com cut PepsiCo from a buy rating to a hold rating in a research note on Monday, February 12th. Citigroup raised shares of PepsiCo from a neutral rating to a buy rating and lifted their price target for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Barclays raised their price objective on shares of PepsiCo from $183.00 to $184.00 and gave the stock an overweight rating in a report on Friday, April 12th. Finally, Morgan Stanley raised shares of PepsiCo from an equal weight rating to an overweight rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $186.92.

PepsiCo Stock Down 2.5 %

Shares of NASDAQ:PEP traded down $4.41 during midday trading on Tuesday, reaching $172.05. The company had a trading volume of 4,537,753 shares, compared to its average volume of 5,737,557. The business’s 50 day moving average price is $168.80 and its 200 day moving average price is $167.55. PepsiCo has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. The stock has a market cap of $236.48 billion, a PE ratio of 26.21, a P/E/G ratio of 2.73 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The company had revenue of $27.84 billion for the quarter, compared to analyst estimates of $28.40 billion. During the same period in the previous year, the business earned $1.67 EPS. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts forecast that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 annualized dividend and a dividend yield of 2.94%. PepsiCo’s dividend payout ratio is currently 77.02%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.