Coca-Cola (KO) Set to Announce Quarterly Earnings on Wednesday

Coca-Cola (NYSE:KO - Get Free Report) will be posting its quarterly earnings results before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.75 per share for the quarter. Coca-Cola has set its FY24 guidance at $2.82-2.85 EPS and its FY 2024 guidance at 2.830-2.850 EPS.Individual interested in listening to the company's earnings conference call can do so using this link.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. On average, analysts expect Coca-Cola to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Coca-Cola Stock Up 0.3 %

KO stock traded up $0.18 during mid-day trading on Wednesday, reaching $70.52. 7,936,518 shares of the company traded hands, compared to its average volume of 13,148,418. The stock has a market cap of $303.80 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 3.92 and a beta of 0.60. Coca-Cola has a fifty-two week low of $53.21 and a fifty-two week high of $73.53. The firm's 50 day moving average price is $70.60 and its 200 day moving average price is $65.59. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola's payout ratio is 77.60%.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Quan sold 37,787 shares of the firm's stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock valued at $24,728,364. Company insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KO shares. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They issued an "outperform" rating and a $72.00 target price on the stock. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Finally, Cfra reissued a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.00.

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.