Coca-Cola Enterprises’s Neutral Rating Reaffirmed at Zacks (CCE)
Coca-Cola Enterprises (NYSE:CCE)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday, Stock Ratings Network.com reports. They currently have a $46.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 5.89% from the company’s current price.
Zacks‘ analyst wrote, “Coca-Cola Enterprises’ fourth-quarter 2013 adjusted earnings of $0.54 per share beat the Zacks Consensus Estimate by 3.8%. Earnings increased 20.0% over the prior-year quarter driven by solid top line growth. Marginally short of the Zacks Consensus Estimate, revenues grew 6% year over year due to volume growth, which was driven by growth in Coca-Cola trademark brands. Volumes also improved in Europe and Great Britain. However, pricing decreased due to higher cost of sales per case. Overall, we believe that the company’s strong brand portfolio, solid cash position, cost saving initiatives and accelerated share buybacks will help it to ride out the current volatile environment and spur profitability. However, challenging consumer environment is restricting meaningful volume/top-line growth. We, therefore, maintain a Neutral recommendation on the stock.”
A number of other analysts have also recently weighed in on CCE. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Coca-Cola Enterprises in a research note to investors on Friday, December 20th. They now have a $47.00 price target on the stock, up previously from $45.00. Separately, analysts at Nomura raised their price target on shares of Coca-Cola Enterprises from $42.00 to $43.50 in a research note to investors on Friday, December 20th. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital initiated coverage on shares of Coca-Cola Enterprises in a research note to investors on Tuesday, November 26th. They set an “outperform” rating and a $49.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $45.27.
Shares of Coca-Cola Enterprises (NYSE:CCE) traded up 1.75% during mid-day trading on Thursday, hitting $44.20. 2,402,004 shares of the company’s stock traded hands. Coca-Cola Enterprises has a 52-week low of $33.81 and a 52-week high of $45.03. The stock has a 50-day moving average of $43.71 and a 200-day moving average of $40.96. The company has a market cap of $11.476 billion and a price-to-earnings ratio of 19.32.
Coca-Cola Enterprises (NYSE:CCE) last announced its earnings results on Wednesday, February 5th. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.52 by $0.01. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.34 earnings per share. Coca-Cola Enterprises’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Coca-Cola Enterprises will post $2.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of 0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Coca-Cola Enterprises’s previous quarterly dividend of $0.20.
Coca-Cola Enterprises, Inc (NYSE:CCE) markets, produces, and distributes nonalcoholic beverages.
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