Coca-Cola Enterprises Inc. (CCE) Issues Earnings Results, Misses Expectations By $0.24 EPS
Coca-Cola Enterprises Inc. (NYSE:CCE) posted its quarterly earnings results on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.24. Coca-Cola Enterprises had a return on equity of 61.11% and a net margin of 8.21%.
Coca-Cola Enterprises (NYSE:CCE) opened at 39.70 on Thursday. The firm has a market cap of $19.37 billion, a PE ratio of 27.57 and a beta of 1.06. The company’s 50-day moving average is $38.70 and its 200-day moving average is $43.73. Coca-Cola Enterprises has a one year low of $33.67 and a one year high of $54.54.
Several large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. increased its stake in Coca-Cola Enterprises by 186.9% in the second quarter. Point72 Asset Management L.P. now owns 643,000 shares of the company’s stock worth $22,949,000 after buying an additional 418,900 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Coca-Cola Enterprises during the second quarter worth $69,235,000. Paloma Partners Management Co increased its stake in Coca-Cola Enterprises by 271.2% in the second quarter. Paloma Partners Management Co now owns 135,124 shares of the company’s stock worth $4,821,000 after buying an additional 98,718 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Coca-Cola Enterprises by 30.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 423,404 shares of the company’s stock worth $15,111,000 after buying an additional 100,000 shares during the last quarter. Finally, KCG Holdings Inc. increased its stake in Coca-Cola Enterprises by 125.5% in the second quarter. KCG Holdings Inc. now owns 70,927 shares of the company’s stock worth $2,531,000 after buying an additional 39,477 shares during the last quarter. Institutional investors own 27.13% of the company’s stock.
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Several analysts have issued reports on CCE shares. Evercore ISI restated a “buy” rating on shares of Coca-Cola Enterprises in a research report on Sunday, June 26th. Susquehanna restated a “hold” rating on shares of Coca-Cola Enterprises in a research report on Saturday, June 4th. Vetr upgraded shares of Coca-Cola Enterprises from a “hold” rating to a “strong-buy” rating and set a $55.50 price target on the stock in a research report on Tuesday, May 31st. Zacks Investment Research upgraded shares of Coca-Cola Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Finally, Societe Generale upgraded shares of Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $50.54.
Coca-Cola Enterprises Company Profile
Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.
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