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

by · The Markets Daily

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

PepsiCo Stock Performance

PEP remained flat at $172.54 during trading on Thursday. The company’s stock had a trading volume of 1,271,722 shares, compared to its average volume of 5,493,439. The company has a market cap of $237.21 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo has a one year low of $157.43 and a one year high of $183.41. The business’s fifty day moving average price is $173.62 and its two-hundred day moving average price is $172.06. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PEP shares. Barclays lowered their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a report on Friday, July 19th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday. BNP Paribas initiated coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $184.07.

Read Our Latest Stock Analysis on PepsiCo

PepsiCo Company Profile

(Get Free Report)

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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