Coca-Cola (NYSE:KO – Get Free Report) issued its earnings results on Tuesday. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03, Briefing.com reports. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. Coca-Cola updated its FY24 guidance to $2.82-2.85 EPS and its FY 2024 guidance to 2.830-2.850 EPS.
Coca-Cola Stock Up 0.4 %
Shares of NYSE KO opened at $66.08 on Friday. The stock has a market capitalization of $284.67 billion, a P/E ratio of 26.43, a PEG ratio of 3.71 and a beta of 0.59. The stock’s fifty day moving average is $63.40 and its 200 day moving average is $61.44. Coca-Cola has a 52 week low of $51.55 and a 52 week high of $66.89. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.86 and a current ratio of 1.08.
Coca-Cola Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 2.94%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.
Insider Buying and Selling
Analyst Upgrades and Downgrades
A number of research firms have commented on KO. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday. BNP Paribas started coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.25.
View Our Latest Stock Report on KO
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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