Coca-Cola (NYSE:KO – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03, Briefing.com reports. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.49%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 1.3 %
Shares of KO stock traded up $0.84 during trading on Thursday, hitting $66.65. 4,530,519 shares of the company were exchanged, compared to its average volume of 12,809,030. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market capitalization of $287.13 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 3.66 and a beta of 0.59. The business’s 50-day simple moving average is $63.34 and its 200 day simple moving average is $61.41. Coca-Cola has a twelve month low of $51.55 and a twelve month high of $66.89.
Coca-Cola Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. Argus lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.20.
Read 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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