PepsiCo (NASDAQ:PEP) Posts Earnings Results, Beats Estimates By $0.09 EPS

PepsiCo (NASDAQ:PEP) issued its earnings results on Tuesday. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09, Briefing.com reports. The company 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 firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company 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 Performance

NASDAQ PEP opened at $177.41 on Thursday. The company has a market cap of $243.85 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.69 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The business’s 50 day moving average price is $169.04 and its 200-day moving average price is $167.70. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $196.88.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio is currently 76.09%.

Analyst Ratings Changes

Several brokerages recently issued reports on PEP. Royal Bank of Canada reissued a “sector perform” rating and set a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. Jefferies Financial Group lifted their target price on PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.33.

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.