PepsiCo’s Neutral Rating Reaffirmed at Zacks (PEP)
PepsiCo (NYSE:PEP)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Monday, AmericanBankingNews.com reports. They currently have a $90.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 5.20% from the company’s current price.
Zacks’ analyst wrote, “Pepsi began 2014 on a solid note beating the Zacks Consensus Estimate for both earnings and revenues. Moreover, earnings increased 7% year over year driven by strong organic revenue gains and solid margins. Organic revenues rose 4.0% as better volumes, strong snacks performance, improvement in Europe and sales gain in developing/emerging market offset a softer beverage performance. Overall, we are encouraged by the company’s strong brand portfolio, its product and geographic diversity, improved productivity, increased brand building investments and market execution, innovation efforts and solid cash flow generation. Also, the company’s plan to substantially increase shareholders returns in 2014 and extension of productivity initiatives are encouraging. However, a challenging consumer spending environment and continued sluggish volumes in the North American beverage business keeps us on the sidelines.”
PEP has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of PepsiCo in a research note on Monday. They now have a $92.00 price target on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of PepsiCo in a research note on Monday. They now have a $91.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of PepsiCo from $90.00 to $94.00 in a research note on Monday. They now have a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. PepsiCo has an average rating of “Buy” and a consensus target price of $91.80.
Shares of PepsiCo (NYSE:PEP) traded up 0.04% during mid-day trading on Monday, hitting $85.58. The stock had a trading volume of 1,966,738 shares. PepsiCo has a 52 week low of $77.01 and a 52 week high of $87.06. The stock has a 50-day moving average of $82.54 and a 200-day moving average of $82.31. The company has a market cap of $130.0 billion and a price-to-earnings ratio of 19.33.
PepsiCo (NYSE:PEP) last released its earnings data on Thursday, April 17th. The company reported $0.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.08. The company had revenue of $12.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter last year, the company posted $0.77 earnings per share. PepsiCo’s revenue was up .3% compared to the same quarter last year. Analysts expect that PepsiCo will post $4.53 EPS for the current fiscal year.
PepsiCo, Inc (NYSE:PEP) is a global food and beverage company.
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