Coca-Cola (NYSE:KO) Releases FY 2024 Earnings Guidance

Coca-Cola (NYSE:KO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.800-2.830 for the period, compared to the consensus estimate of 2.630. The company issued revenue guidance of -. Coca-Cola also updated its FY24 guidance to $2.80-$2.82 EPS.

Coca-Cola Price Performance

Shares of NYSE KO opened at $62.04 on Tuesday. The business has a 50 day simple moving average of $60.17 and a 200-day simple moving average of $58.96. Coca-Cola has a twelve month low of $51.55 and a twelve month high of $64.69. The company has a market capitalization of $267.47 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Coca-Cola will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio is presently 78.23%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent research reports. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a buy rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an overweight rating on the stock in a report on Friday, April 19th. Finally, Barclays boosted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an overweight rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $67.22.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 323,107 shares of company stock worth $19,657,742 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.