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Coca-Cola (KO) Stock Declines While Market Improves: Some Information for Investors
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Coca-Cola (KO - Free Report) closed at $70.17 in the latest trading session, marking a -0.5% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.9%. Elsewhere, the Dow gained 0.81%, while the tech-heavy Nasdaq added 1.22%.
Heading into today, shares of the world's largest beverage maker had lost 0.91% over the past month, outpacing the Consumer Staples sector's loss of 2.37% and lagging the S&P 500's gain of 3.15% in that time.
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 23, 2024. The company is predicted to post an EPS of $0.75, indicating a 1.35% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $11.64 billion, down 2.59% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.85 per share and revenue of $46.03 billion, which would represent changes of +5.95% and +0.61%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coca-Cola. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Coca-Cola boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Coca-Cola is at present trading with a Forward P/E ratio of 24.75. For comparison, its industry has an average Forward P/E of 18.81, which means Coca-Cola is trading at a premium to the group.
It is also worth noting that KO currently has a PEG ratio of 3.9. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Beverages - Soft drinks industry held an average PEG ratio of 2.91.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Coca-Cola (KO) Stock Declines While Market Improves: Some Information for Investors
Coca-Cola (KO - Free Report) closed at $70.17 in the latest trading session, marking a -0.5% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.9%. Elsewhere, the Dow gained 0.81%, while the tech-heavy Nasdaq added 1.22%.
Heading into today, shares of the world's largest beverage maker had lost 0.91% over the past month, outpacing the Consumer Staples sector's loss of 2.37% and lagging the S&P 500's gain of 3.15% in that time.
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 23, 2024. The company is predicted to post an EPS of $0.75, indicating a 1.35% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $11.64 billion, down 2.59% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.85 per share and revenue of $46.03 billion, which would represent changes of +5.95% and +0.61%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coca-Cola. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Coca-Cola boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Coca-Cola is at present trading with a Forward P/E ratio of 24.75. For comparison, its industry has an average Forward P/E of 18.81, which means Coca-Cola is trading at a premium to the group.
It is also worth noting that KO currently has a PEG ratio of 3.9. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Beverages - Soft drinks industry held an average PEG ratio of 2.91.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.