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Coca-Cola (KO) Gains As Market Dips: What You Should Know
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Coca-Cola (KO - Free Report) closed the latest trading day at $54.07, indicating a +1.2% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
The world's largest beverage maker's stock has dropped by 8.35% in the past month, falling short of the Consumer Staples sector's loss of 5.17% and the S&P 500's loss of 1.6%.
The investment community will be closely monitoring the performance of Coca-Cola in its forthcoming earnings report. The company is scheduled to release its earnings on October 24, 2023. The company is predicted to post an EPS of $0.69, indicating constancy compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $11.46 billion, up 3.62% from the year-ago period.
KO's full-year Zacks Consensus Estimates are calling for earnings of $2.63 per share and revenue of $44.94 billion. These results would represent year-over-year changes of +6.05% and +4.5%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coca-Cola. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% lower. Currently, Coca-Cola is carrying a Zacks Rank of #4 (Sell).
Investors should also note Coca-Cola's current valuation metrics, including its Forward P/E ratio of 20.35. This represents a premium compared to its industry's average Forward P/E of 19.7.
Meanwhile, KO's PEG ratio is currently 3.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. KO's industry had an average PEG ratio of 2.25 as of yesterday's close.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 228, positioning it in the bottom 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Coca-Cola (KO) Gains As Market Dips: What You Should Know
Coca-Cola (KO - Free Report) closed the latest trading day at $54.07, indicating a +1.2% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
The world's largest beverage maker's stock has dropped by 8.35% in the past month, falling short of the Consumer Staples sector's loss of 5.17% and the S&P 500's loss of 1.6%.
The investment community will be closely monitoring the performance of Coca-Cola in its forthcoming earnings report. The company is scheduled to release its earnings on October 24, 2023. The company is predicted to post an EPS of $0.69, indicating constancy compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $11.46 billion, up 3.62% from the year-ago period.
KO's full-year Zacks Consensus Estimates are calling for earnings of $2.63 per share and revenue of $44.94 billion. These results would represent year-over-year changes of +6.05% and +4.5%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coca-Cola. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% lower. Currently, Coca-Cola is carrying a Zacks Rank of #4 (Sell).
Investors should also note Coca-Cola's current valuation metrics, including its Forward P/E ratio of 20.35. This represents a premium compared to its industry's average Forward P/E of 19.7.
Meanwhile, KO's PEG ratio is currently 3.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. KO's industry had an average PEG ratio of 2.25 as of yesterday's close.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 228, positioning it in the bottom 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.