Coca-Cola Enterprises Sees Large Decline in Short Interest (CCE)
Coca-Cola Enterprises (NYSE:CCE) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totalling 1,917,907 shares, a drop of 50.4% from the April 15th total of 3,863,819 shares, American Banking News reports. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 3,054,278 shares, the days-to-cover ratio is presently 0.6 days.
A number of research firms have recently commented on CCE. Analysts at Nomura downgraded shares of Coca-Cola Enterprises from a “neutral” rating to a “reduce” rating in a research note on Tuesday, April 29th. They now have a $41.00 price target on the stock, down previously from $44.50. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Coca-Cola Enterprises in a research note on Friday, April 25th. They now have a $49.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Coca-Cola Enterprises from $47.00 to $50.00 in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Coca-Cola Enterprises presently has an average rating of “Hold” and a consensus price target of $46.83.
Coca-Cola Enterprises (NYSE:CCE) opened at 45.85 on Tuesday. Coca-Cola Enterprises has a 52-week low of $33.81 and a 52-week high of $48.04. The stock has a 50-day moving average of $46.09 and a 200-day moving average of $44.73. The company has a market cap of $11.528 billion and a P/E ratio of 16.96.
Coca-Cola Enterprises (NYSE:CCE) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $1.87 million for the quarter, compared to the consensus estimate of $1.93 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Coca-Cola Enterprises will post $2.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Wednesday, June 4th.
Coca-Cola Enterprises, Inc (NYSE:CCE) markets, produces, and distributes nonalcoholic beverages.
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