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Coca-Cola (KO) Gains As Market Dips: What You Should Know
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The most recent trading session ended with Coca-Cola (KO - Free Report) standing at $65.21, reflecting a +1.46% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 1.39%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq lost 2.77%.
Shares of the world's largest beverage maker have appreciated by 2.62% over the course of the past month, outperforming the Consumer Staples sector's gain of 1.88% and lagging the S&P 500's gain of 4.43%.
Analysts and investors alike will be keeping a close eye on the performance of Coca-Cola in its upcoming earnings disclosure. The company's earnings report is set to go public 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. Alongside, our most recent consensus estimate is anticipating revenue of $11.87 billion, indicating a 0.89% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.82 per share and revenue of $45.76 billion, which would represent changes of +4.83% and +0.02%, respectively, from the prior year.
Any recent changes to analyst estimates for Coca-Cola should also be noted by investors. Recent revisions tend to reflect the latest 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. At present, Coca-Cola boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Coca-Cola is presently trading at a Forward P/E ratio of 22.77. Its industry sports an average Forward P/E of 19.89, so one might conclude that Coca-Cola is trading at a premium comparatively.
One should further note that KO currently holds a PEG ratio of 3.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Beverages - Soft drinks industry had an average PEG ratio of 2.66 as trading concluded yesterday.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Coca-Cola (KO) Gains As Market Dips: What You Should Know
The most recent trading session ended with Coca-Cola (KO - Free Report) standing at $65.21, reflecting a +1.46% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 1.39%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq lost 2.77%.
Shares of the world's largest beverage maker have appreciated by 2.62% over the course of the past month, outperforming the Consumer Staples sector's gain of 1.88% and lagging the S&P 500's gain of 4.43%.
Analysts and investors alike will be keeping a close eye on the performance of Coca-Cola in its upcoming earnings disclosure. The company's earnings report is set to go public 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. Alongside, our most recent consensus estimate is anticipating revenue of $11.87 billion, indicating a 0.89% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.82 per share and revenue of $45.76 billion, which would represent changes of +4.83% and +0.02%, respectively, from the prior year.
Any recent changes to analyst estimates for Coca-Cola should also be noted by investors. Recent revisions tend to reflect the latest 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. At present, Coca-Cola boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Coca-Cola is presently trading at a Forward P/E ratio of 22.77. Its industry sports an average Forward P/E of 19.89, so one might conclude that Coca-Cola is trading at a premium comparatively.
One should further note that KO currently holds a PEG ratio of 3.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Beverages - Soft drinks industry had an average PEG ratio of 2.66 as trading concluded yesterday.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.