Coca-Cola European Partners (CCE) Issues Earnings Results, Beats Estimates By $0.03 EPS

Coca-Cola European Partners (NYSE:CCE) posted its quarterly earnings results on Thursday. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03, Morningstar.com reports. Coca-Cola European Partners had a return on equity of 15.60% and a net margin of 6.78%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the firm earned $0.43 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year.

Shares of Coca-Cola European Partners (NYSE CCE) opened at $39.22 on Friday. The stock has a market capitalization of $18,028.68, a P/E ratio of 22.25, a PEG ratio of 1.77 and a beta of 0.82. Coca-Cola European Partners has a twelve month low of $34.36 and a twelve month high of $44.75. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.76.

CCE has been the topic of a number of research analyst reports. Zacks Investment Research cut Coca-Cola European Partners from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Susquehanna Bancshares set a $33.00 price target on Coca-Cola European Partners and gave the stock a “sell” rating in a report on Wednesday, November 29th. Macquarie cut Coca-Cola European Partners from an “outperform” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. Deutsche Bank initiated coverage on Coca-Cola European Partners in a report on Wednesday, December 13th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, UBS Group cut Coca-Cola European Partners to a “neutral” rating in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $43.00.

Several institutional investors and hedge funds have recently modified their holdings of the company. Artisan Partners Limited Partnership raised its holdings in shares of Coca-Cola European Partners by 0.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 16,772,887 shares of the company’s stock worth $698,088,000 after acquiring an additional 139,127 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Coca-Cola European Partners by 6.4% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,506,938 shares of the company’s stock worth $478,918,000 after acquiring an additional 692,923 shares in the last quarter. Boston Partners raised its holdings in shares of Coca-Cola European Partners by 7.5% during the 4th quarter. Boston Partners now owns 11,303,329 shares of the company’s stock worth $450,438,000 after acquiring an additional 789,615 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Coca-Cola European Partners by 14.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,373,721 shares of the company’s stock worth $265,274,000 after acquiring an additional 811,835 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Coca-Cola European Partners by 122.8% during the 4th quarter. BlackRock Inc. now owns 4,204,170 shares of the company’s stock worth $167,539,000 after acquiring an additional 2,317,252 shares in the last quarter. 28.32% of the stock is currently owned by institutional investors and hedge funds.

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About Coca-Cola European Partners

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.

Earnings History for Coca-Cola European Partners (NYSE:CCE)

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