PepsiCo (NASDAQ:PEP) Posts Earnings Results

PepsiCo (NASDAQ:PEP) posted its earnings results on Tuesday. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09, Briefing.com reports. The firm had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 EPS. PepsiCo updated its FY24 guidance to at least $8.15 EPS and its FY 2024 guidance to 8.150- EPS.

PepsiCo Stock Down 0.4 %

Shares of NASDAQ PEP opened at $176.68 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The company has a market cap of $242.90 billion, a P/E ratio of 26.57, a PEG ratio of 2.80 and a beta of 0.53. PepsiCo has a 1 year low of $155.83 and a 1 year high of $196.88. The firm has a 50-day simple moving average of $169.22 and a two-hundred day simple moving average of $167.76.

PepsiCo Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEP shares. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Barclays raised their price objective on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Monday, March 18th. JPMorgan Chase & Co. raised their price objective on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.