PepsiCo (NASDAQ:PEP) Issues FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 8.150- for the period, compared to the consensus EPS estimate of 8.150. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the stock a buy rating in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the stock a hold rating in a report on Friday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $178.00 to $181.00 and gave the company a neutral rating in a research report on Wednesday. Royal Bank of Canada reiterated a sector perform rating and set a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Finally, Wedbush reiterated an outperform rating and set a $195.00 target price on shares of PepsiCo in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $187.33.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $5.19 during trading on Wednesday, reaching $176.41. The company had a trading volume of 4,336,820 shares, compared to its average volume of 5,775,292. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88. The stock has a market cap of $242.48 billion, a PE ratio of 26.50, a PEG ratio of 2.77 and a beta of 0.53. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.68 and a current ratio of 0.85. The business’s 50 day moving average price is $168.84 and its 200-day moving average price is $167.63.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The company had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Analysts expect that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors 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 2.87%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is 77.02%.

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.