PepsiCo (NASDAQ:PEP) Announces Earnings Results

PepsiCo (NASDAQ:PEP) announced its quarterly earnings results on Tuesday. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09, Briefing.com reports. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. 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 company posted $1.50 earnings per share. PepsiCo’s revenue for the quarter was up 2.3% on a year-over-year basis. PepsiCo updated its FY24 guidance to at least $8.15 EPS and its FY 2024 guidance to 8.150- EPS.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ:PEP opened at $169.80 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. The business has a fifty day moving average of $168.84 and a two-hundred day moving average of $167.63. The stock has a market cap of $233.39 billion, a P/E ratio of 26.06, a PEG ratio of 2.77 and a beta of 0.53. PepsiCo has a 52-week low of $155.83 and a 52-week high of $196.88.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.265 dividend. This represents a $5.06 annualized dividend and a yield of 2.98%. The ex-dividend date was Thursday, February 29th. PepsiCo’s payout ratio is currently 77.02%.

Wall Street Analyst Weigh In

PEP has been the subject of a number of analyst reports. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Jefferies Financial Group upped their target price on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday. Finally, Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.92.

About PepsiCo

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.