Coca-Cola Enterprises Inc. (CCE) Expected to Post FY2016 Earnings of $1.90 Per Share
Coca-Cola Enterprises Inc. (NYSE:CCE) – Investment analysts at Credit Agricole SA cut their FY2016 earnings per share estimates for shares of Coca-Cola Enterprises in a research note issued on Thursday. Credit Agricole SA analyst C. Levy now expects that the firm will post earnings of $1.90 per share for the year, down from their previous forecast of $2.13. Credit Agricole SA also issued estimates for Coca-Cola Enterprises’ FY2017 earnings at $2.10 EPS and FY2018 earnings at $2.30 EPS.
Coca-Cola Enterprises (NYSE:CCE) last announced its quarterly earnings data on Thursday, September 22nd. The company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.11. Coca-Cola Enterprises had a return on equity of 21.76% and a net margin of 8.49%. 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 company’s revenue was down 3.5% compared to the same quarter last year.
CCE has been the subject of a number of other reports. TheStreet upgraded Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research note on Thursday, September 22nd. Goldman Sachs Group Inc. lowered Coca-Cola Enterprises from a “buy” rating to a “neutral” rating and set a $43.00 price objective 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. Kepler Capital Markets initiated coverage on Coca-Cola Enterprises in a research report on Thursday, October 20th. They issued a “buy” rating for the company. Finally, Societe Generale upgraded Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Coca-Cola Enterprises presently has a consensus rating of “Buy” and a consensus price target of $50.46.
Shares of Coca-Cola Enterprises (NYSE:CCE) opened at 35.13 on Monday. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 27.02 and a beta of 1.10. Coca-Cola Enterprises has a 12 month low of $33.67 and a 12 month high of $54.54. The firm’s 50-day moving average price is $38.34 and its 200-day moving average price is $40.46.
Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in 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. boosted its stake in 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 boosted its stake in 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. Tower Research Capital LLC TRC purchased a new stake in Coca-Cola Enterprises during the third quarter valued at approximately $155,000. Finally, Meeder Asset Management Inc. boosted its stake in Coca-Cola Enterprises by 19.0% in the third quarter. Meeder Asset Management Inc. now owns 4,917 shares of the company’s stock valued at $196,000 after buying an additional 784 shares during the last quarter. Institutional investors and hedge funds own 26.48% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Monday, October 3rd were issued a dividend of $0.1909 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, September 29th. Coca-Cola Enterprises’s dividend payout ratio (DPR) is presently 34.23%.
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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