PepsiCo (NASDAQ:PEP) Issues Earnings Results, Beats Expectations By $0.09 EPS

PepsiCo (NASDAQ:PEPGet Free Report) issued its quarterly earnings data on Tuesday. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09, Briefing.com reports. The firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior 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 Price Performance

PEP opened at $169.80 on Wednesday. PepsiCo has a 1 year low of $155.83 and a 1 year high of $196.88. The company’s 50 day simple moving average is $168.84 and its 200 day simple moving average is $167.63. 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 stock has a market capitalization of $233.39 billion, a PE ratio of 26.06, a P/E/G ratio of 2.77 and a beta of 0.53.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

PEP has been the topic of a number of research reports. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $195.00 in a research note on Monday, February 12th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a research note on Monday, February 12th. Finally, Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.92.

View Our Latest Stock Analysis on PEP

About PepsiCo

(Get Free Report)

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.

See Also

Earnings History for PepsiCo (NASDAQ:PEP)

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