Coca-Cola Given Neutral Rating at Zacks (KO)
Coca-Cola (NYSE:KO)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Wednesday, Analyst Ratings.Net reports. They currently have a $39.00 target price on the stock. Zacks‘ price target suggests a potential upside of 4.08% from the stock’s previous close.
Zacks‘ analyst wrote, “Coca-Cola’s fourth-quarter 2013 adjusted earnings of $0.46 per share were in line with the Zacks Consensus Estimate. Earnings grew 7% year over as strong gross margin and lower taxes made up for soft revenues and margins. Revenues declined 4% year over year and missed the Zacks Consensus Estimate. Both volumes and price/mix gains were lower than the third-quarter levels. Despite softer performance in recent quarters, we believe Coca-Cola has sound long-term fundamentals with its global reach, strong brand power, expanding international presence, powerful global bottling network and solid cash position. Moreover, its increased focus on product/packaging innovation and marketing strategies bode well for additional market share gains. However, muted volume trends of carbonated beverages and challenging consumer spending environment concern us. We thus, maintain a Neutral recommendation with a target price of $39.00.”
Shares of Coca-Cola (NYSE:KO) traded down 0.41% on Wednesday, hitting $37.3155. The stock had a trading volume of 18,544,600 shares. Coca-Cola has a 52-week low of $36.83 and a 52-week high of $43.43. The stock has a 50-day moving average of $39.06 and a 200-day moving average of $39.16. The company has a market cap of $164.8 billion and a price-to-earnings ratio of 19.42. Coca-Cola also was the target of unusually large options trading activity on Tuesday. Stock traders acquired 30,609 call options on the stock. This is an increase of approximately 120% compared to the typical daily volume of 13,902 call options.
Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 18th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $11.04 billion for the quarter, compared to the consensus estimate of $11.31 billion. Analysts expect that Coca-Cola will post $2.17 EPS for the current fiscal year.
KO has been the subject of a number of other recent research reports. Analysts at Credit Suisse cut their price target on shares of Coca-Cola to $46.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Coca-Cola in a research note on Thursday, February 13th. Finally, analysts at Societe Generale initiated coverage on shares of Coca-Cola in a research note on Thursday, January 30th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.69.
The Coca-Cola Company, incorporated on September 5, 1919, is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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