The Coca-Cola Company Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:KO)
Shares of The Coca-Cola Company (NYSE:KO) have earned an average rating of “Buy” from the fifteen ratings firms that are covering the stock, AnalystRatings.Net reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $45.50.
The Coca-Cola Company (NYSE:KO) traded up 0.50% on Thursday, hitting $41.99. 2,371,286 shares of the company’s stock traded hands. The Coca-Cola Company has a 1-year low of $36.83 and a 1-year high of $42.57. The stock has a 50-day moving average of $40.78 and a 200-day moving average of $40.22. The company has a market cap of $184.2 billion and a price-to-earnings ratio of 22.34. The Coca-Cola Company also was the target of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 49,968,050 shares, a drop of 20.4% from the July 31st total of 62,797,788 shares. Based on an average trading volume of 13,544,871 shares, the days-to-cover ratio is presently 3.7 days. Approximately 1.2% of the company’s shares are sold short.
The Coca-Cola Company (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $12.57 billion for the quarter, compared to the consensus estimate of $12.82 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post $2.08 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on KO shares. Analysts at Brasil Plural initiated coverage on shares of The Coca-Cola Company in a research note on Monday, August 25th. They set an “overweight” rating and a $46.00 price target on the stock. Separately, analysts at Jefferies Group downgraded shares of The Coca-Cola Company from a “buy” rating to a “hold” rating in a research note on Monday, August 18th. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of The Coca-Cola Company in a research note on Monday, August 18th. They now have a $46.00 price target on the stock.
The Coca-Cola Company 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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