Coca-Cola Enterprises Inc. (CCE) Releases FY16 Earnings Guidance
Coca-Cola Enterprises Inc. (NYSE:CCE) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of EUR 1.86-1.90 for the period, compared to the Thomson Reuters consensus estimate of $1.89.
Coca-Cola Enterprises Inc. (NYSE:CCE) opened at 34.92 on Friday. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 26.66 and a beta of 1.10. Coca-Cola Enterprises Inc. has a 12 month low of $33.67 and a 12 month high of $54.54. The company has a 50 day moving average price of $38.48 and a 200 day moving average price of $40.58.
Coca-Cola Enterprises (NYSE:CCE) last posted 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. Coca-Cola Enterprises had a return on equity of 28.73% and a net margin of 7.56%. The company earned $2.87 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the company earned $0.79 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts anticipate that Coca-Cola Enterprises Inc. will post $2.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 3rd were issued a $0.1909 dividend. The ex-dividend date was Thursday, September 29th. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. Coca-Cola Enterprises’s dividend payout ratio is currently 34.70%.
A number of equities research analysts have commented on the company. Kepler Capital Markets assumed coverage on Coca-Cola Enterprises in a research report on Thursday, October 20th. They issued a buy rating for the company. Goldman Sachs Group Inc. lowered Coca-Cola Enterprises from a buy rating to a neutral rating and set a $43.00 target price for the company. in a research report on Monday, October 10th. Zacks Investment Research lowered Coca-Cola Enterprises from a hold rating to a strong sell rating in a research report on Tuesday, September 27th. TheStreet upgraded Coca-Cola Enterprises from a hold rating to a buy rating in a research report on Thursday, September 22nd. Finally, Credit Suisse Group AG initiated coverage on Coca-Cola Enterprises in a research report on Thursday, September 15th. They set a neutral rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $50.29.
Hedge funds and other institutional investors have recently modified their holdings of the company. Third Point LLC bought a new position in Coca-Cola Enterprises during the second quarter valued at $96,363,000. Highbridge Capital Management LLC acquired a new stake in Coca-Cola Enterprises during the second quarter worth approximately $69,235,000. Massachusetts Financial Services Co. MA acquired a new stake in Coca-Cola Enterprises during the second quarter worth approximately $42,966,000. Credit Suisse AG increased its stake in 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 last quarter. Finally, FMR LLC increased its stake in Coca-Cola Enterprises by 76.1% in the second quarter. FMR LLC now owns 1,341,235 shares of the company’s stock worth $47,868,000 after buying an additional 579,629 shares during the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.
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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