PepsiCo (NASDAQ:PEP) Updates FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of at least $8.15 for the period, compared to the consensus earnings per share estimate of $8.16.

PepsiCo Stock Down 3.2 %

Shares of PepsiCo stock traded down $5.57 during trading on Tuesday, hitting $170.89. 3,080,010 shares of the stock traded hands, compared to its average volume of 5,714,932. PepsiCo has a 52-week low of $155.83 and a 52-week high of $196.88. The stock’s fifty day simple moving average is $168.80 and its 200 day simple moving average is $167.55. The firm has a market cap of $234.89 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.73 and a beta of 0.53. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The business had revenue of $27.84 billion for the quarter, compared to analyst estimates of $28.40 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.265 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.96%. PepsiCo’s payout ratio is currently 77.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEP. Deutsche Bank Aktiengesellschaft boosted their price target on PepsiCo from $181.00 to $184.00 and gave the stock a hold rating in a research report on Friday, February 9th. Barclays increased their target price on shares of PepsiCo from $183.00 to $184.00 and gave the company an overweight rating in a research report on Friday, April 12th. Argus lowered shares of PepsiCo from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Royal Bank of Canada reissued a sector perform rating and issued a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. Finally, Citigroup raised PepsiCo from a neutral rating to a buy rating and increased their price target for the company from $180.00 to $195.00 in a report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PepsiCo has an average rating of Moderate Buy and a consensus price target of $186.92.

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.