Coca-Cola European Partners plc (NYSE:CCE) – Stock analysts at Jefferies Group upped their FY2018 earnings per share estimates for shares of Coca-Cola European Partners in a note issued to investors on Tuesday. Jefferies Group analyst K. Grundy now expects that the company will post earnings per share of $2.81 for the year, up from their prior estimate of $2.63. Jefferies Group also issued estimates for Coca-Cola European Partners’ FY2019 earnings at $3.03 EPS.
Coca-Cola European Partners (NYSE:CCE) last announced its earnings results on Thursday, February 15th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.58 billion. Coca-Cola European Partners had a return on equity of 16.37% and a net margin of 5.91%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share.
A number of other analysts have also issued reports on CCE. Zacks Investment Research lowered Coca-Cola European Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. UBS Group downgraded shares of Coca-Cola European Partners to a “neutral” rating in a research note on Monday, November 13th. Susquehanna Bancshares downgraded shares of Coca-Cola European Partners from a “neutral” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $33.00 in a research note on Monday, November 13th. Deutsche Bank started coverage on shares of Coca-Cola European Partners in a research note on Wednesday, December 13th. They issued a “buy” rating and a $43.00 price target for the company. Finally, Macquarie downgraded shares of Coca-Cola European Partners from an “outperform” rating to a “neutral” rating and set a $40.00 price target for the company. in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Coca-Cola European Partners currently has an average rating of “Hold” and an average price target of $43.38.
Shares of Coca-Cola European Partners (CCE) traded up $0.41 during midday trading on Thursday, reaching $38.31. The company’s stock had a trading volume of 724,384 shares, compared to its average volume of 1,800,991. The stock has a market capitalization of $18,290.24, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.74 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.76. Coca-Cola European Partners has a 52 week low of $34.36 and a 52 week high of $44.75.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from Coca-Cola European Partners’s previous quarterly dividend of $0.24. Coca-Cola European Partners’s payout ratio is presently 61.15%.
Several hedge funds have recently modified their holdings of the stock. Advisor Group Inc. boosted its stake in Coca-Cola European Partners by 35.5% in the second quarter. Advisor Group Inc. now owns 3,587 shares of the company’s stock valued at $132,000 after acquiring an additional 939 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Coca-Cola European Partners by 0.8% during the third quarter. Artisan Partners Limited Partnership now owns 16,772,887 shares of the company’s stock worth $698,088,000 after buying an additional 139,127 shares during the period. Stifel Financial Corp grew its position in Coca-Cola European Partners by 93.9% during the third quarter. Stifel Financial Corp now owns 31,471 shares of the company’s stock worth $1,302,000 after buying an additional 15,241 shares during the period. Davidson Kempner Capital Management LP acquired a new position in Coca-Cola European Partners during the third quarter worth about $2,539,000. Finally, Macquarie Group Ltd. acquired a new position in Coca-Cola European Partners during the third quarter worth about $256,000. Hedge funds and other institutional investors own 29.14% of the company’s stock.
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Coca-Cola European Partners Company Profile
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.
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