Wall Street brokerages expect Coca-Cola European Partners (NYSE:CCE) to announce sales of $3.02 billion for the current quarter, according to Zacks. Four analysts have made estimates for Coca-Cola European Partners’ earnings. The highest sales estimate is $3.05 billion and the lowest is $3.00 billion. Coca-Cola European Partners reported sales of $2.54 billion during the same quarter last year, which would suggest a positive year over year growth rate of 18.9%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 26th.
On average, analysts expect that Coca-Cola European Partners will report full year sales of $14.22 billion for the current fiscal year, with estimates ranging from $14.09 billion to $14.38 billion. For the next financial year, analysts expect that the firm will post sales of $14.64 billion per share, with estimates ranging from $14.52 billion to $14.74 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Coca-Cola European Partners.
Coca-Cola European Partners (NYSE:CCE) last posted its earnings results on Thursday, February 15th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Coca-Cola European Partners had a net margin of 5.91% and a return on equity of 16.12%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share.
CCE has been the topic of a number of recent research reports. Goldman Sachs upgraded shares of Coca-Cola European Partners from a “neutral” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered shares of Coca-Cola European Partners from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. ValuEngine upgraded shares of Coca-Cola European Partners from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Macquarie lowered 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 report on Friday, January 5th. Finally, Deutsche Bank lifted their price target on shares of Coca-Cola European Partners from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.88.
A number of hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Coca-Cola European Partners in the fourth quarter valued at $2,674,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Coca-Cola European Partners by 55.0% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 229,700 shares of the company’s stock valued at $9,154,000 after buying an additional 81,500 shares during the period. Sterling Capital Management LLC acquired a new position in Coca-Cola European Partners in the fourth quarter valued at $626,000. Macquarie Group Ltd. lifted its holdings in Coca-Cola European Partners by 82.9% in the fourth quarter. Macquarie Group Ltd. now owns 11,191 shares of the company’s stock valued at $2,208,000 after buying an additional 5,071 shares during the period. Finally, Vident Investment Advisory LLC lifted its holdings in Coca-Cola European Partners by 32.2% in the fourth quarter. Vident Investment Advisory LLC now owns 17,109 shares of the company’s stock valued at $682,000 after buying an additional 4,169 shares during the period. Institutional investors and hedge funds own 30.86% of the company’s stock.
Shares of NYSE CCE traded down $0.33 during midday trading on Wednesday, reaching $40.55. 1,042,723 shares of the company were exchanged, compared to its average volume of 1,215,283. The stock has a market cap of $19,801.52, a PE ratio of 16.97, a PEG ratio of 2.02 and a beta of 0.74. Coca-Cola European Partners has a one year low of $36.17 and a one year high of $44.75. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 1.01.
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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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