Brokerages expect Coca-Cola European Partners PLC (NYSE:CCE) to announce sales of $3.69 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued 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 in the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is expected to report its next earnings report 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 financial year, with estimates ranging from $13.07 billion to $13.38 billion. For the next financial year, analysts forecast that the firm will post sales of $13.67 billion, with estimates ranging from $13.37 billion to $13.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Coca-Cola European Partners.
Coca-Cola European Partners (NYSE:CCE) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. Coca-Cola European Partners had a return on equity of 15.85% and a net margin of 5.97%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS.
CCE has been the topic of several research analyst reports. ValuEngine raised Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research note on Friday, June 29th. Wells Fargo & Co raised their price objective on Coca-Cola European Partners from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, August 10th. Zacks Investment Research raised Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $46.00 price objective on shares of Coca-Cola European Partners in a research note on Wednesday, August 15th. Finally, Macquarie raised Coca-Cola European Partners from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $43.00 to $48.00 in a research note on Tuesday, September 4th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $44.43.
Shares of CCE stock traded up $0.50 during trading hours on Monday, reaching $43.12. The company had a trading volume of 2,741,352 shares, compared to its average volume of 1,414,397. The company has a quick ratio of 0.80, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The company has a market cap of $22.02 billion, a P/E ratio of 18.04, a price-to-earnings-growth 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.
Institutional investors have recently modified their holdings of the stock. Mount Yale Investment Advisors LLC acquired a new stake in Coca-Cola European Partners during the 1st quarter worth $108,000. Cerebellum GP LLC bought a new position in Coca-Cola European Partners during the 2nd quarter worth about $180,000. Signaturefd LLC increased its holdings in Coca-Cola European Partners by 81.4% during the 2nd quarter. Signaturefd LLC now owns 4,570 shares of the company’s stock worth $186,000 after purchasing an additional 2,051 shares in the last quarter. Fulton Bank N.A. bought a new position in Coca-Cola European Partners during the 3rd quarter worth about $222,000. Finally, First Trust Advisors LP bought a new position in Coca-Cola European Partners during the 2nd quarter worth about $228,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.
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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