PepsiCo (NASDAQ:PEP) Issues FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 8.150- for the period, compared to the consensus EPS estimate of 8.150. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. StockNews.com lowered shares of PepsiCo from a buy rating to a hold rating in a report on Monday, February 12th. Citigroup raised shares of PepsiCo from a neutral rating to a buy rating and raised their target price for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $181.00 to $184.00 and gave the stock a hold rating in a research report on Friday, February 9th. Wedbush reissued an outperform rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $186.92.

PepsiCo Stock Down 2.5 %

NASDAQ PEP traded down $4.41 during mid-day trading on Tuesday, reaching $172.05. 4,537,753 shares of the company’s stock traded hands, compared to its average volume of 5,737,557. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02. PepsiCo has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a fifty day simple moving average of $168.80 and a 200-day simple moving average of $167.55. The company has a market cap of $236.48 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 2.73 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $27.84 billion during the quarter, compared to the consensus estimate of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 earnings per share. As a group, equities research analysts expect that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 2.94%. PepsiCo’s dividend payout ratio (DPR) is 77.02%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.