Coca-Cola European Partners (NYSE:CCE) was upgraded by investment analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a report issued on Tuesday, MarketBeat reports.
CCE has been the topic of several other reports. Zacks Investment Research raised shares of Coca-Cola European Partners from a “sell” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, January 9th. ValuEngine raised shares of Coca-Cola European Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Morgan Stanley started coverage on shares of Coca-Cola European Partners in a research note on Monday, March 26th. They issued an “overweight” rating on the stock. Susquehanna Bancshares dropped their price target on shares of Coca-Cola European Partners from $33.00 to $30.00 and set a “negative” rating on the stock in a research note on Monday, February 12th. Finally, Macquarie downgraded shares of Coca-Cola European Partners from an “outperform” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Coca-Cola European Partners presently has an average rating of “Hold” and a consensus price target of $43.88.
Shares of NYSE:CCE opened at $41.32 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 1.01. Coca-Cola European Partners has a 12-month low of $36.17 and a 12-month high of $44.75. The firm has a market cap of $20,271.37, a price-to-earnings ratio of 17.08, a PEG ratio of 2.07 and a beta of 0.74.
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 the consensus estimate of $0.55 by $0.03. Coca-Cola European Partners had a net margin of 5.91% and a return on equity of 16.12%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the business earned $0.43 EPS. The company’s revenue was up 3.3% on a year-over-year basis. sell-side analysts forecast that Coca-Cola European Partners will post 2.81 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of CCE. BlackRock Inc. boosted its holdings in Coca-Cola European Partners by 122.8% in the fourth quarter. BlackRock Inc. now owns 4,204,170 shares of the company’s stock worth $167,539,000 after purchasing an additional 2,317,252 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Coca-Cola European Partners in the fourth quarter worth $49,698,000. York Capital Management Global Advisors LLC bought a new stake in Coca-Cola European Partners in the fourth quarter worth $44,728,000. Boston Partners boosted its holdings in Coca-Cola European Partners by 7.5% in the fourth quarter. Boston Partners now owns 11,303,329 shares of the company’s stock worth $450,438,000 after purchasing an additional 789,615 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Coca-Cola European Partners by 475.4% in the fourth quarter. Two Sigma Investments LP now owns 721,696 shares of the company’s stock worth $28,760,000 after purchasing an additional 596,266 shares in the last quarter. Hedge funds and other institutional investors own 30.86% of the company’s stock.
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About Coca-Cola European Partners
Coca-Cola European Partners plc, together with its subsidiaries, produces, distributes, and markets a range of nonalcoholic ready-to-drink beverages. The company offers water, juice, isotonic, sparkling flavor and energy drink, and other products. It provides its products primarily under the Coca-Cola, Fanta, and Monster brands, as well as Coca-Cola Zero Sugar, Vio, Royal Bliss, Honest, and GLACÉAU Smartwater brands.
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