Brokerages forecast that Coca-Cola European Partners PLC (NYSE:CCE) will report sales of $3.69 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Coca-Cola European Partners’ earnings, with the highest sales estimate coming in at $3.79 billion and the lowest estimate coming in at $3.58 billion. Coca-Cola European Partners reported sales of $3.48 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 6%. The company is expected to announce its next earnings results before the market opens on Thursday, October 25th.
On average, analysts expect that Coca-Cola European Partners will report full year sales of $13.28 billion for the current fiscal year, with estimates ranging from $13.07 billion to $13.38 billion. For the next year, analysts expect that the business will post sales of $13.67 billion, with estimates ranging from $13.37 billion to $13.88 billion. Zacks’ sales calculations 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 announced its quarterly earnings data on Thursday, August 9th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Coca-Cola European Partners had a return on equity of 15.85% and a net margin of 5.97%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share.
Several brokerages have commented on CCE. ValuEngine raised Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 29th. Jefferies Financial Group reissued a “hold” rating and set a $46.00 price objective on shares of Coca-Cola European Partners in a research report on Wednesday, August 15th. Wells Fargo & Co raised their price objective on Coca-Cola European Partners from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, August 10th. Bank of America raised their price objective on Coca-Cola European Partners from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 13th. Finally, UBS Group raised Coca-Cola European Partners to a “neutral” rating in a research report on Friday, September 14th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.43.
Coca-Cola European Partners stock traded up $0.50 on Monday, hitting $43.12. 2,741,352 shares of the stock traded hands, compared to its average volume of 1,414,397. The company has a current ratio of 1.02, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $22.02 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.21 and a beta of 0.67. Coca-Cola European Partners has a 1 year low of $36.17 and a 1 year high of $46.16.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Coca-Cola European Partners by 7.6% in the 2nd quarter. BlackRock Inc. now owns 12,348,709 shares of the company’s stock worth $501,852,000 after purchasing an additional 871,324 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Coca-Cola European Partners by 8.9% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,398,899 shares of the company’s stock worth $474,879,000 after purchasing an additional 930,340 shares during the last quarter. Boston Partners raised its position in shares of Coca-Cola European Partners by 1.7% in the 2nd quarter. Boston Partners now owns 10,782,583 shares of the company’s stock worth $438,204,000 after purchasing an additional 177,650 shares during the last quarter. FMR LLC raised its position in shares of Coca-Cola European Partners by 12.3% in the 2nd quarter. FMR LLC now owns 6,644,819 shares of the company’s stock worth $270,045,000 after purchasing an additional 728,064 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Coca-Cola European Partners by 24.3% in the 2nd quarter. Wells Fargo & Company MN now owns 3,572,178 shares of the company’s stock worth $145,174,000 after purchasing an additional 698,437 shares during the last quarter. 31.15% of the stock is owned by hedge funds and other institutional investors.
Coca-Cola European Partners Company Profile
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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