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Coca-Cola (KO) Ascends While Market Falls: Some Facts to Note
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Coca-Cola (KO - Free Report) closed at $63.10 in the latest trading session, marking a +0.43% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.
Shares of the world's largest beverage maker have depreciated by 0.08% over the course of the past month, outperforming the Consumer Staples sector's loss of 0.67% and lagging the S&P 500's gain of 5.11%.
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 July 23, 2024. The company's upcoming EPS is projected at $0.80, signifying a 2.56% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $11.87 billion, indicating a 0.81% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.82 per share and a revenue of $45.81 billion, demonstrating changes of +4.83% and +0.12%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coca-Cola. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, the Zacks Consensus EPS estimate has moved 0.07% higher. At present, Coca-Cola boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Coca-Cola is holding a Forward P/E ratio of 22.27. This signifies a premium in comparison to the average Forward P/E of 19.83 for its industry.
Meanwhile, KO's PEG ratio is currently 3.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Beverages - Soft drinks industry held an average PEG ratio of 2.63.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 43, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Ascends While Market Falls: Some Facts to Note
Coca-Cola (KO - Free Report) closed at $63.10 in the latest trading session, marking a +0.43% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.
Shares of the world's largest beverage maker have depreciated by 0.08% over the course of the past month, outperforming the Consumer Staples sector's loss of 0.67% and lagging the S&P 500's gain of 5.11%.
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 July 23, 2024. The company's upcoming EPS is projected at $0.80, signifying a 2.56% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $11.87 billion, indicating a 0.81% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.82 per share and a revenue of $45.81 billion, demonstrating changes of +4.83% and +0.12%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coca-Cola. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, the Zacks Consensus EPS estimate has moved 0.07% higher. At present, Coca-Cola boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Coca-Cola is holding a Forward P/E ratio of 22.27. This signifies a premium in comparison to the average Forward P/E of 19.83 for its industry.
Meanwhile, KO's PEG ratio is currently 3.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Beverages - Soft drinks industry held an average PEG ratio of 2.63.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 43, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.