Coca-Cola (KO) Set to Announce Quarterly Earnings on Tuesday

Coca-Cola (NYSE:KO) is set to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Coca-Cola to post earnings of $0.70 per share for the quarter. Coca-Cola has set its FY24 guidance at $2.80-$2.82 EPS and its FY 2024 guidance at 2.800-2.830 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter last year, the business posted $0.45 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. 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 Up 0.6 %

Shares of KO opened at $60.55 on Tuesday. The stock has a 50 day moving average price of $59.95 and a 200 day moving average price of $58.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market capitalization of $261.04 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.44 and a beta of 0.59. Coca-Cola has a one year low of $51.55 and a one year high of $64.99.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.20%. Coca-Cola’s dividend payout ratio is presently 78.23%.

Analyst Upgrades and Downgrades

KO has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. lowered their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Barclays increased their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.09.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,407 shares of company stock worth $22,795,742. Insiders own 0.97% of the company’s stock.

About Coca-Cola

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.