PepsiCo (NASDAQ:PEP) Issues FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $8.15 for the period, compared to the consensus EPS estimate of $8.16. PepsiCo also updated its FY 2024 guidance to 8.150- EPS.

PepsiCo Trading Up 0.1 %

Shares of PEP stock opened at $176.93 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The company has a market capitalization of $243.24 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.80 and a beta of 0.53. PepsiCo has a 52-week low of $155.83 and a 52-week high of $196.88. The company has a 50-day simple moving average of $169.22 and a two-hundred day simple moving average of $167.76.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The firm 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 company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 earnings per share. Research analysts anticipate that PepsiCo will post 8.16 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on PEP shares. Royal Bank of Canada restated a sector perform rating and set a $180.00 price target on shares of PepsiCo in a research note on Monday, February 12th. Argus cut shares of PepsiCo from a buy rating to a hold rating in a research note on Wednesday, April 3rd. Citigroup upgraded shares of PepsiCo from a neutral rating to a buy rating and increased their target price for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Morgan Stanley upgraded shares of PepsiCo from an equal weight rating to an overweight rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Finally, Jefferies Financial Group increased their target price on shares of PepsiCo from $199.00 to $209.00 and gave the stock a buy rating in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $187.42.

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.