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Coca-Cola (KO) Stock Falls Amid Market Uptick: What Investors Need to Know
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Coca-Cola (KO - Free Report) ended the recent trading session at $53.71, demonstrating a -0.59% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
Shares of the world's largest beverage maker have depreciated by 7.32% over the course of the past month, underperforming the Consumer Staples sector's loss of 3.69% and the S&P 500's loss of 2.1%.
The upcoming earnings release of Coca-Cola will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company's upcoming EPS is projected at $0.69, signifying steadiness compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.46 billion, indicating a 3.62% upward movement from the same quarter last year.
KO's full-year Zacks Consensus Estimates are calling for earnings of $2.63 per share and revenue of $44.96 billion. These results would represent year-over-year changes of +6.05% and +4.56%, respectively.
Investors might also notice recent changes to analyst estimates for Coca-Cola. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.28% fall in the Zacks Consensus EPS estimate. Right now, Coca-Cola possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Coca-Cola has a Forward P/E ratio of 20.57 right now. This expresses a premium compared to the average Forward P/E of 19.73 of its industry.
Also, we should mention that KO has a PEG ratio of 3.18. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Beverages - Soft drinks was holding an average PEG ratio of 2.3 at yesterday's closing price.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 206, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KO in the coming trading sessions, be sure to utilize Zacks.com.
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Coca-Cola (KO) Stock Falls Amid Market Uptick: What Investors Need to Know
Coca-Cola (KO - Free Report) ended the recent trading session at $53.71, demonstrating a -0.59% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
Shares of the world's largest beverage maker have depreciated by 7.32% over the course of the past month, underperforming the Consumer Staples sector's loss of 3.69% and the S&P 500's loss of 2.1%.
The upcoming earnings release of Coca-Cola will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company's upcoming EPS is projected at $0.69, signifying steadiness compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.46 billion, indicating a 3.62% upward movement from the same quarter last year.
KO's full-year Zacks Consensus Estimates are calling for earnings of $2.63 per share and revenue of $44.96 billion. These results would represent year-over-year changes of +6.05% and +4.56%, respectively.
Investors might also notice recent changes to analyst estimates for Coca-Cola. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.28% fall in the Zacks Consensus EPS estimate. Right now, Coca-Cola possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Coca-Cola has a Forward P/E ratio of 20.57 right now. This expresses a premium compared to the average Forward P/E of 19.73 of its industry.
Also, we should mention that KO has a PEG ratio of 3.18. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Beverages - Soft drinks was holding an average PEG ratio of 2.3 at yesterday's closing price.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 206, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KO in the coming trading sessions, be sure to utilize Zacks.com.