Coca-Cola European Partners (NYSE:CCE) Cut to Neutral at Macquarie

Macquarie cut shares of Coca-Cola European Partners (NYSE:CCE) from an outperform rating to a neutral rating in a research note released on Friday, January 5th, Marketbeat Ratings reports. The firm currently has $40.00 price objective on the stock.

Other analysts have also issued research reports about the company. Deutsche Bank assumed coverage on Coca-Cola European Partners in a report on Wednesday, December 13th. They issued a buy rating and a $43.00 target price on the stock. Zacks Investment Research raised Coca-Cola European Partners from a sell rating to a hold rating in a report on Tuesday, November 7th. Susquehanna Bancshares set a $33.00 target price on Coca-Cola European Partners and gave the company a sell rating in a report on Wednesday, November 29th. UBS Group lowered Coca-Cola European Partners to a neutral rating in a report on Monday, November 13th. Finally, Jefferies Group reaffirmed a hold rating and set a $45.00 price objective on shares of Coca-Cola European Partners in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Coca-Cola European Partners presently has a consensus rating of Hold and a consensus price target of $43.50.

Shares of Coca-Cola European Partners (NYSE CCE) opened at $38.63 on Friday. Coca-Cola European Partners has a 52 week low of $31.95 and a 52 week high of $44.75. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $18,790.00, a P/E ratio of 22.29, a PEG ratio of 1.90 and a beta of 0.88.

Coca-Cola European Partners (NYSE:CCE) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.12). Coca-Cola European Partners had a return on equity of 15.60% and a net margin of 6.78%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company earned $0.67 EPS. Coca-Cola European Partners’s revenue for the quarter was down .7% compared to the same quarter last year. research analysts forecast that Coca-Cola European Partners will post 2.45 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Allied Advisory Services Inc. raised its holdings in shares of Coca-Cola European Partners by 0.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 10,196 shares of the company’s stock worth $411,000 after purchasing an additional 30 shares during the period. Keybank National Association OH raised its holdings in shares of Coca-Cola European Partners by 1.2% in the 2nd quarter. Keybank National Association OH now owns 6,958 shares of the company’s stock worth $283,000 after purchasing an additional 83 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Coca-Cola European Partners by 1.8% in the 2nd quarter. Raymond James Trust N.A. now owns 5,978 shares of the company’s stock worth $243,000 after purchasing an additional 104 shares during the period. Suntrust Banks Inc. raised its holdings in shares of Coca-Cola European Partners by 2.3% in the 2nd quarter. Suntrust Banks Inc. now owns 8,894 shares of the company’s stock worth $360,000 after purchasing an additional 204 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Coca-Cola European Partners by 3.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,492 shares of the company’s stock worth $427,000 after purchasing an additional 382 shares during the period. Hedge funds and other institutional investors own 29.33% of the company’s stock.

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About Coca-Cola European Partners

Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.

Analyst Recommendations for Coca-Cola European Partners (NYSE:CCE)

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