Coca-Cola Enterprises Inc. (NYSE:CCE) Receives Average Rating of “Buy” from Analysts
Shares of Coca-Cola Enterprises Inc. (NYSE:CCE) have been given a consensus rating of “Buy” by the fifteen analysts that are presently covering the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $47.93.
CCE has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Coca-Cola Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 7th. Deutsche Bank AG restated a “buy” rating and set a $47.00 target price on shares of Coca-Cola Enterprises in a report on Friday, June 10th. Susquehanna restated a “neutral” rating on shares of Coca-Cola Enterprises in a report on Tuesday, June 21st. Evercore ISI restated a “buy” rating on shares of Coca-Cola Enterprises in a report on Sunday, June 26th. Finally, Societe Generale upgraded shares of Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th.
A number of institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Coca-Cola Enterprises by 2.3% in the first quarter. State Street Corp now owns 9,744,459 shares of the company’s stock worth $494,438,000 after buying an additional 216,662 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Coca-Cola Enterprises during the second quarter worth $265,643,000. Credit Suisse AG raised its position in shares of Coca-Cola Enterprises by 22.0% in the second quarter. Credit Suisse AG now owns 6,529,959 shares of the company’s stock worth $233,054,000 after buying an additional 1,175,633 shares during the period. First Eagle Investment Management LLC raised its position in shares of Coca-Cola Enterprises by 8.3% in the second quarter. First Eagle Investment Management LLC now owns 5,152,652 shares of the company’s stock worth $183,898,000 after buying an additional 393,401 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Coca-Cola Enterprises by 73.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,970,297 shares of the company’s stock worth $201,453,000 after buying an additional 1,685,708 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Enterprises (NYSE:CCE) opened at 39.90 on Wednesday. The company’s 50-day moving average is $39.19 and its 200 day moving average is $43.27. Coca-Cola Enterprises has a 52 week low of $33.67 and a 52 week high of $54.54. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 30.14 and a beta of 1.02.
Coca-Cola Enterprises (NYSE:CCE) last released its quarterly earnings results on Thursday, September 22nd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.11. The company earned $2.87 billion during the quarter, compared to the consensus estimate of $3.03 billion. Coca-Cola Enterprises had a net margin of 7.56% and a return on equity of 28.73%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. On average, analysts forecast that Coca-Cola Enterprises will post $2.12 EPS for the current fiscal year.
The firm 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 $0.1909 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, September 29th. Coca-Cola Enterprises’s dividend payout ratio (DPR) is 34.70%.
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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