PepsiCo (NASDAQ:PEP) Issues FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $8.15 for the period, compared to the consensus EPS estimate of $8.16.

PepsiCo Price Performance

Shares of PEP opened at $176.46 on Tuesday. The firm has a market cap of $242.55 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.73 and a beta of 0.53. The stock has a 50 day moving average of $168.80 and a 200-day moving average of $167.55. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $27.84 billion for the quarter, compared to the consensus estimate of $28.40 billion. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 EPS. As a group, analysts forecast that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio is presently 77.02%.

Analyst Ratings Changes

A number of research firms have recently commented on PEP. StockNews.com downgraded PepsiCo from a buy rating to a hold rating in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on PepsiCo from $181.00 to $184.00 and gave the stock a hold rating in a research report on Friday, February 9th. Wedbush reaffirmed an outperform rating and set a $195.00 target price on shares of PepsiCo in a research report on Tuesday. Royal Bank of Canada reaffirmed a sector perform rating and set a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Finally, Jefferies Financial Group boosted their target price on PepsiCo from $199.00 to $209.00 and gave the stock a buy rating in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PepsiCo has an average rating of Moderate Buy and a consensus price target of $186.92.

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.