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Coca-Cola (KO) Outperforms Broader Market: What You Need to Know
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Coca-Cola (KO - Free Report) closed the latest trading day at $70.44, indicating a +0.77% change from the previous session's end. This change outpaced the S&P 500's 0.4% gain on the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.
The world's largest beverage maker's stock has dropped by 1.02% in the past month, exceeding the Consumer Staples sector's loss of 2.13% and lagging the S&P 500's gain of 3.76%.
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 October 23, 2024. It is anticipated that the company will report an EPS of $0.74, marking stability compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.61 billion, indicating a 2.85% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.85 per share and a revenue of $46.01 billion, signifying shifts of +5.95% and +0.55%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. Currently, Coca-Cola is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Coca-Cola is currently trading at a Forward P/E ratio of 24.55. This valuation marks a premium compared to its industry's average Forward P/E of 18.29.
It is also worth noting that KO currently has a PEG ratio of 3.94. 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. The Beverages - Soft drinks industry had an average PEG ratio of 3.01 as trading concluded yesterday.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outperforms Broader Market: What You Need to Know
Coca-Cola (KO - Free Report) closed the latest trading day at $70.44, indicating a +0.77% change from the previous session's end. This change outpaced the S&P 500's 0.4% gain on the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.
The world's largest beverage maker's stock has dropped by 1.02% in the past month, exceeding the Consumer Staples sector's loss of 2.13% and lagging the S&P 500's gain of 3.76%.
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 October 23, 2024. It is anticipated that the company will report an EPS of $0.74, marking stability compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.61 billion, indicating a 2.85% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.85 per share and a revenue of $46.01 billion, signifying shifts of +5.95% and +0.55%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. Currently, Coca-Cola is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Coca-Cola is currently trading at a Forward P/E ratio of 24.55. This valuation marks a premium compared to its industry's average Forward P/E of 18.29.
It is also worth noting that KO currently has a PEG ratio of 3.94. 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. The Beverages - Soft drinks industry had an average PEG ratio of 3.01 as trading concluded yesterday.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.