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

Coca-Cola (NYSE:KO) is scheduled to announce its earnings results before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.75 per share for the quarter. Coca-Cola has set its FY24 guidance at $2.82-2.85 EPS and its FY 2024 guidance at 2.830-2.850 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. 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 Performance

Shares of KO stock opened at $70.36 on Wednesday. The stock has a market cap of $303.11 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. Coca-Cola has a one year low of $52.84 and a one year high of $73.53. The stock has a 50-day moving average of $70.60 and a 200-day moving average of $65.59.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.76%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Morgan Stanley raised their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, Barclays boosted their price objective on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.33.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock valued at $24,728,364 in the last 90 days. 0.97% of the stock is currently owned by insiders.

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.