PepsiCo (NASDAQ:PEP) Issues FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of at least $8.15 for the period, compared to the consensus estimate of $8.16. PepsiCo also updated its FY 2024 guidance to 8.150- EPS.

PepsiCo Trading Up 0.1 %

NASDAQ PEP opened at $176.93 on Friday. The company’s 50-day moving average price is $169.22 and its 200-day moving average price is $167.76. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The stock has a market cap of $243.24 billion, a PE ratio of 26.32, a PEG ratio of 2.80 and a beta of 0.53. PepsiCo has a 12 month low of $155.83 and a 12 month high of $196.88.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. Equities research analysts forecast that PepsiCo will post 8.16 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s payout ratio is presently 76.09%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of PepsiCo from a buy rating to a hold rating in a research note on Monday, February 12th. Jefferies Financial Group upped their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the stock a buy rating in a research note on Friday, April 5th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, Wedbush reaffirmed an outperform rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has an average rating of Moderate Buy and an average price target of $187.42.

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.