PepsiCo (NASDAQ:PEP) Releases FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of at least $8.15 for the period, compared to the consensus estimate of $8.16.

Analyst Ratings Changes

PEP has been the topic of a number of analyst reports. Morgan Stanley raised PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price objective on the stock in a report on Monday, March 18th. StockNews.com lowered shares of PepsiCo from a buy rating to a hold rating in a research report on Monday, February 12th. Barclays raised their target price on shares of PepsiCo from $183.00 to $184.00 and gave the company an overweight rating in a research note on Friday, April 12th. Argus lowered shares of PepsiCo from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on PepsiCo from $181.00 to $184.00 and gave the company a hold rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $186.92.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $5.57 during mid-day trading on Tuesday, hitting $170.89. The company had a trading volume of 3,080,010 shares, compared to its average volume of 5,714,932. PepsiCo has a 12 month low of $155.83 and a 12 month high of $196.88. The firm has a market cap of $234.89 billion, a P/E ratio of 26.86, a PEG ratio of 2.73 and a beta of 0.53. The business’s 50-day simple moving average is $168.80 and its 200-day simple moving average is $167.55. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $27.84 billion during the quarter, compared to the consensus estimate of $28.40 billion. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. As a group, analysts predict that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio is 77.02%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.