PepsiCo (NASDAQ:PEP) Updates FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEPGet Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 8.150- for the period, compared to the consensus earnings per share estimate of 8.150. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

PepsiCo Stock Performance

Shares of PEP traded down $4.20 on Tuesday, reaching $172.26. 4,310,417 shares of the company’s stock traded hands, compared to its average volume of 5,735,099. The stock’s 50 day simple moving average is $168.80 and its two-hundred day simple moving average is $167.55. PepsiCo has a 52-week low of $155.83 and a 52-week high of $196.88. The stock has a market cap of $236.77 billion, a PE ratio of 26.21, a PEG ratio of 2.73 and a beta of 0.53. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02.

PepsiCo (NASDAQ:PEPGet Free Report) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The business had revenue of $27.84 billion during the quarter, compared to analyst estimates of $28.40 billion. During the same period in the prior year, the company earned $1.67 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is 77.02%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on PepsiCo from $181.00 to $184.00 and gave the company a hold rating in a report on Friday, February 9th. Royal Bank of Canada reiterated a sector perform rating and issued a $180.00 price target on shares of PepsiCo in a research report on Monday, February 12th. Barclays lifted their price target on PepsiCo from $183.00 to $184.00 and gave the company an overweight rating in a research report on Friday, April 12th. StockNews.com cut PepsiCo from a buy rating to a hold rating in a research report on Monday, February 12th. Finally, Citigroup upgraded PepsiCo from a neutral rating to a buy rating and lifted their price target for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $186.92.

Check Out Our Latest Research Report on PepsiCo

PepsiCo Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for PepsiCo (NASDAQ:PEP)

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