PepsiCo (NASDAQ:PEP) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

by · The Cerbat Gem

PepsiCo (NASDAQ:PEP – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01, RTT News reports. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. PepsiCo updated its FY 2024 guidance to 8.150- EPS and its FY24 guidance to at least $8.15 EPS.

PepsiCo Stock Down 0.2 %

Shares of PEP stock traded down $0.39 on Thursday, hitting $172.15. The stock had a trading volume of 1,997,222 shares, compared to its average volume of 5,497,695. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The company has a market cap of $236.67 billion, a PE ratio of 24.95, a P/E/G ratio of 3.07 and a beta of 0.53. The business has a 50 day moving average price of $173.62 and a 200 day moving average price of $172.06. PepsiCo has a one year low of $157.43 and a one year high of $183.41.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is 78.66%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a report on Thursday. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $184.07.

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PepsiCo Company Profile

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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.

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