Wall Street analysts predict that Coca-Cola European Partners PLC (NYSE:CCEP) will report $3.60 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Coca-Cola European Partners’ earnings, with estimates ranging from $3.54 billion to $3.67 billion. Coca-Cola European Partners reported sales of $3.65 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The company is expected to issue its next earnings report on Thursday, August 22nd.
According to Zacks, analysts expect that Coca-Cola European Partners will report full-year sales of $13.38 billion for the current year, with estimates ranging from $13.34 billion to $13.41 billion. For the next financial year, analysts expect that the firm will report sales of $13.76 billion, with estimates ranging from $13.73 billion to $13.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Coca-Cola European Partners.
A number of equities analysts have recently issued reports on the stock. Morgan Stanley lowered shares of Coca-Cola European Partners from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 12th. They noted that the move was a valuation call. Barclays set a $60.00 price target on shares of Coca-Cola European Partners and gave the stock a “buy” rating in a research note on Friday, August 9th. Evercore ISI reissued a “buy” rating and set a $60.00 price target on shares of Coca-Cola European Partners in a research note on Thursday, August 8th. ValuEngine downgraded shares of Coca-Cola European Partners from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Coca-Cola European Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.00.
Shares of CCEP stock traded up $0.95 during trading hours on Monday, reaching $55.10. 1,097,700 shares of the company were exchanged, compared to its average volume of 1,061,635. Coca-Cola European Partners has a fifty-two week low of $41.67 and a fifty-two week high of $58.35. The stock’s fifty day moving average is $56.44 and its two-hundred day moving average is $53.14. The company has a market cap of $26.00 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 2.14 and a beta of 0.45. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.84 and a quick ratio of 0.61.
A number of large investors have recently modified their holdings of the business. Prudential PLC bought a new stake in Coca-Cola European Partners in the second quarter valued at approximately $9,833,000. Royal Bank of Canada acquired a new position in shares of Coca-Cola European Partners in the second quarter valued at approximately $4,433,000. UBS Group AG acquired a new position in shares of Coca-Cola European Partners in the second quarter valued at approximately $23,978,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Coca-Cola European Partners in the second quarter valued at approximately $266,000. Finally, First Manhattan Co. acquired a new position in shares of Coca-Cola European Partners in the second quarter valued at approximately $606,000. 30.47% 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, markets, distributes, and sells a range of nonalcoholic ready-to-drink beverages. The company offers sparkling flavors, energy drinks, juices, isotonics, and other drinks, as well as water. It provides its products primarily under the Coca-Cola, Fanta, and Sprite brands, as well as Coca-Cola Zero Sugar, Mezzo Mix, Schweppes, Royal Bliss, Fïnle, Monster, GLACÉAU Smartwater, Vio, Chaudfontaine, Fuze Tea, Honest Coffee, Oasis, Capri-Sun, Honest, and Tropico brands.
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