PepsiCo (NASDAQ:PEP) Issues Earnings Results

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

PepsiCo Trading Up 3.6 %

NASDAQ PEP opened at $177.41 on Thursday. The stock has a market capitalization of $243.85 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.69 and a beta of 0.53. PepsiCo has a one year low of $155.83 and a one year high of $196.88. 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 business’s fifty day moving average is $169.04 and its 200-day moving average is $167.70.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 2.85%. The ex-dividend date was Thursday, February 29th. PepsiCo’s payout ratio is 76.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft increased their target price on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Barclays increased their target price on PepsiCo from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.33.

About PepsiCo

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.