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Is PepsiCo (PEP) a 'Buy' Ahead of Q3 Earnings Announcement?
Snack foods and beverage company PepsiCo is set to report third-quarter earnings results next Tuesday before the opening bell. The company’s portfolio includes well-known brands such as Frito-Lay, Pepsi-Cola, Gatorade, Quaker and Tropicana.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
PepsiCo (PEP - Free Report) , currently a Zacks Rank #3 (Hold), has established a long history of exceeding earnings estimates. But with market volatility on the rise heading into October, is PEP stock a buy?
The Q3 Zacks Consensus Estimate calls for earnings of $2.30 per share, reflecting a 2.2% improvement relative to the same quarter last year. The company has delivered a trailing four-quarter average earnings surprise of 4.8%.
Earnings estimates have slightly declined over the past 60 days. Sales are anticipated to have risen 2% to $23.92 billion during the third quarter.
PepsiCo’s international business continues to strengthen its overall performance. Still, PEP stock has been lagging the general market along with most staples. Investors should proceed with caution heading into the announcement.