Coca-Cola (KO) to Release Earnings on Wednesday

by · The Markets Daily

Coca-Cola (NYSE:KO – Get Free Report) will release its earnings data before the market opens on Wednesday, October 23rd. Analysts expect Coca-Cola to post earnings of $0.75 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. On average, analysts expect Coca-Cola to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Coca-Cola Stock Down 1.4 %

Shares of KO stock opened at $69.45 on Tuesday. The stock’s 50 day simple moving average is $70.73 and its 200 day simple moving average is $65.87. Coca-Cola has a twelve month low of $54.04 and a twelve month high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $299.19 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock valued at $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Barclays boosted their price objective on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Morgan Stanley upped their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Check Out Our Latest Stock Analysis on KO

Coca-Cola Company Profile

(Get Free Report)

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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