PepsiCo (NASDAQ:PEP) Issues FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) 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.

Analysts Set New Price Targets

PEP has been the subject of a number of analyst reports. Argus downgraded shares of PepsiCo from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Citigroup raised shares of PepsiCo from a neutral rating to a buy rating and upped their target price for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Barclays upped their target price on shares of PepsiCo from $184.00 to $185.00 and gave the stock an overweight rating in a research note on Thursday. StockNews.com cut shares of PepsiCo from a buy rating to a hold rating in a report on Monday, February 12th. Finally, Morgan Stanley raised PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $187.42.

PepsiCo Stock Performance

PepsiCo stock traded up $0.29 during midday trading on Friday, hitting $176.97. The company’s stock had a trading volume of 834,267 shares, compared to its average volume of 5,808,062. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a market cap of $243.30 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.80 and a beta of 0.53. The company has a 50-day moving average price of $169.22 and a two-hundred day moving average price of $167.76.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The company had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. As a group, sell-side analysts predict that PepsiCo will post 8.16 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 2.86%. PepsiCo’s payout ratio is 76.09%.

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.