Zacks Investment Research Downgrades Coca-Cola European Partners (CCE) to Hold

Zacks Investment Research downgraded shares of Coca-Cola European Partners (NYSE:CCE) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Coca-Cola European Partners PLC is a consumer packaged goods company. It is engaged in producing, distributing and marketing nonalcoholic ready-to-drink beverages. It operates primarily in Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. Coca-Cola European Partners PLC, formerly known as Coca-Cola Enterprises Inc., is headquartered in Uxbridge, United Kingdom. “

A number of other research firms also recently weighed in on CCE. Macquarie downgraded Coca-Cola European Partners from an outperform rating to a neutral rating and set a $40.00 price target for the company. in a research note on Friday, January 5th. Susquehanna Bancshares downgraded Coca-Cola European Partners from a neutral rating to a neutral rating and decreased their price target for the company from $38.00 to $33.00 in a research note on Monday, November 13th. UBS Group downgraded Coca-Cola European Partners to a neutral rating in a research note on Monday, November 13th. Finally, Deutsche Bank began coverage on Coca-Cola European Partners in a research note on Wednesday, December 13th. They issued a buy rating and a $43.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $43.38.

Coca-Cola European Partners (NYSE:CCE) traded down $0.69 during mid-day trading on Tuesday, reaching $38.85. The company’s stock had a trading volume of 2,312,300 shares, compared to its average volume of 1,700,708. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.76 and a current ratio of 0.95. The company has a market capitalization of $19,152.45, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.91. Coca-Cola European Partners has a 12-month low of $33.09 and a 12-month high of $44.75.

Coca-Cola European Partners (NYSE:CCE) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.12). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.99 billion. Coca-Cola European Partners had a net margin of 6.78% and a return on equity of 15.60%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. equities analysts forecast that Coca-Cola European Partners will post 2.49 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. lifted its position in shares of Coca-Cola European Partners by 0.3% in the second quarter. First Allied Advisory Services Inc. now owns 10,196 shares of the company’s stock valued at $411,000 after buying an additional 30 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Coca-Cola European Partners by 1.8% in the second quarter. Raymond James Trust N.A. now owns 5,978 shares of the company’s stock valued at $243,000 after buying an additional 104 shares during the last quarter. Suntrust Banks Inc. lifted its position in shares of Coca-Cola European Partners by 2.3% in the second quarter. Suntrust Banks Inc. now owns 8,894 shares of the company’s stock valued at $360,000 after buying an additional 204 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Coca-Cola European Partners by 3.8% in the second quarter. Neuberger Berman Group LLC now owns 10,492 shares of the company’s stock valued at $427,000 after buying an additional 382 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Coca-Cola European Partners by 1.6% in the second quarter. Voya Investment Management LLC now owns 25,414 shares of the company’s stock valued at $1,031,000 after buying an additional 400 shares during the last quarter. 29.33% of the stock is owned by institutional investors.

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About Coca-Cola European Partners

Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.

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