PepsiCo (NASDAQ:PEP) Issues FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 8.150- for the period, compared to the consensus EPS estimate of 8.150. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PEP shares. Morgan Stanley upgraded shares of PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price objective for the company in a research note on Monday, March 18th. Citigroup upgraded PepsiCo from a neutral rating to a buy rating and increased their price objective for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Argus lowered shares of PepsiCo from a buy rating to a hold rating in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a hold rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their target price on PepsiCo from $178.00 to $181.00 and gave the stock a neutral rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $187.42.

PepsiCo Trading Down 0.4 %

Shares of PEP stock traded down $0.73 on Thursday, reaching $176.68. The company had a trading volume of 7,436,495 shares, compared to its average volume of 5,872,530. The company has a 50-day moving average of $169.22 and a 200-day moving average of $167.76. PepsiCo has a 12 month low of $155.83 and a 12 month high of $196.88. The stock has a market cap of $242.85 billion, a PE ratio of 26.57, a PEG ratio of 2.69 and a beta of 0.53. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. On average, equities analysts forecast that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.86%. PepsiCo’s dividend payout ratio (DPR) is 76.09%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.