Coca-Cola Enterprises Inc. (CCE) Lowered to “Neutral” at Goldman Sachs Group Inc.
Coca-Cola Enterprises Inc. (NYSE:CCE) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report released on Monday.
CCE has been the subject of several other reports. Susquehanna restated a “hold” rating on shares of Coca-Cola Enterprises in a research note on Sunday, July 17th. Evercore ISI restated a “buy” rating on shares of Coca-Cola Enterprises in a research note on Sunday, June 26th. Zacks Investment Research upgraded Coca-Cola Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. TheStreet upgraded Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research note on Thursday, September 22nd. Finally, Credit Suisse Group AG initiated coverage on Coca-Cola Enterprises in a research note on Thursday, September 15th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $50.54.
Shares of Coca-Cola Enterprises (NYSE:CCE) opened at 38.85 on Monday. 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 $18.75 billion, a price-to-earnings ratio of 29.37 and a beta of 1.02. The company’s 50-day moving average price is $39.27 and its 200 day moving average price is $42.88.
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Coca-Cola Enterprises (NYSE:CCE) last issued its quarterly earnings results on Thursday, September 22nd. The company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.11. Coca-Cola Enterprises had a return on equity of 28.73% and a net margin of 7.56%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. Equities analysts predict that Coca-Cola Enterprises will post $2.12 earnings per share 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 given a dividend of $0.1909 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.76 annualized dividend and a dividend yield of 1.97%. Coca-Cola Enterprises’s dividend payout ratio is currently 34.70%.
Several institutional investors have recently bought and sold shares of CCE. Creative Planning raised its stake in shares of Coca-Cola Enterprises by 91.2% in the second quarter. Creative Planning now owns 3,521 shares of the company’s stock valued at $126,000 after buying an additional 1,679 shares during the last quarter. Smithfield Trust Co. raised its stake in shares of Coca-Cola Enterprises by 1,550.0% in the second quarter. Smithfield Trust Co. now owns 3,630 shares of the company’s stock valued at $130,000 after buying an additional 3,410 shares during the last quarter. Signaturefd LLC raised its stake in shares of Coca-Cola Enterprises by 381.9% in the second quarter. Signaturefd LLC now owns 3,730 shares of the company’s stock valued at $133,000 after buying an additional 2,956 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Coca-Cola Enterprises by 2.5% in the second quarter. Wetherby Asset Management Inc. now owns 5,932 shares of the company’s stock valued at $212,000 after buying an additional 145 shares during the last quarter. Finally, Advisor Partners LLC raised 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 currently owned by hedge funds and other institutional investors.
About Coca-Cola Enterprises
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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