Coca-Cola Enterprises Inc. (CCE) Downgraded to “Neutral” at Goldman Sachs Group Inc.
Coca-Cola Enterprises Inc. (NYSE:CCE) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued on Monday. They currently have a $43.00 price target on the stock. Goldman Sachs Group Inc.’s price objective would suggest a potential upside of 13.55% from the stock’s current price.
Other equities analysts have also issued reports about the stock. Susquehanna reiterated a “hold” rating on shares of Coca-Cola Enterprises in a research report on Sunday, July 17th. Zacks Investment Research lowered shares of Coca-Cola Enterprises from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 27th. Credit Suisse Group AG started coverage on shares of Coca-Cola Enterprises in a research report on Thursday, September 15th. They set a “neutral” rating on the stock. Societe Generale upgraded shares of Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Finally, TheStreet upgraded shares of Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research report on Thursday, September 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Coca-Cola Enterprises currently has a consensus rating of “Buy” and a consensus price target of $50.29.
Coca-Cola Enterprises (NYSE:CCE) traded down 2.52% during trading on Monday, reaching $37.87. 3,238,550 shares of the company’s stock traded hands. Coca-Cola Enterprises has a 12 month low of $33.67 and a 12 month high of $54.54. The company has a market cap of $18.27 billion, a P/E ratio of 28.62 and a beta of 1.02. The firm’s 50 day moving average is $39.27 and its 200 day moving average is $42.88.
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Coca-Cola Enterprises (NYSE:CCE) last released its quarterly earnings results on Thursday, September 22nd. The company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.11. The firm earned $2.87 billion during the quarter, compared to analyst estimates of $3.03 billion. Coca-Cola Enterprises had a net margin of 7.56% and a return on equity of 28.73%. Coca-Cola Enterprises’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. Analysts anticipate that Coca-Cola Enterprises will post $2.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a $0.1909 dividend. This represents a $0.76 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, September 29th. Coca-Cola Enterprises’s payout ratio is presently 34.70%.
Large investors have recently modified their holdings of the stock. Commonwealth Equity Services Inc increased its stake in shares of Coca-Cola Enterprises by 12.1% in the first quarter. Commonwealth Equity Services Inc now owns 6,073 shares of the company’s stock valued at $308,000 after buying an additional 654 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Coca-Cola Enterprises by 2.3% in the first quarter. Teachers Advisors Inc. now owns 260,109 shares of the company’s stock valued at $13,198,000 after buying an additional 5,735 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Coca-Cola Enterprises during the first quarter valued at approximately $13,669,000. Bessemer Group Inc. increased its stake in shares of Coca-Cola Enterprises by 41.6% in the first quarter. Bessemer Group Inc. now owns 9,991 shares of the company’s stock valued at $507,000 after buying an additional 2,936 shares during the last quarter. Finally, Advisor Partners LLC increased its stake in shares of Coca-Cola Enterprises by 0.4% in the first quarter. Advisor Partners LLC now owns 4,271 shares of the company’s stock valued at $217,000 after buying an additional 16 shares during the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.
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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