Sponsored Links 
Coca Cola Enterprises Inc.
Print
ShareSecond-Quarter Results
Sales were mostly flat from last year, up .5% to $5.9 billion. Earnings came in at 67 cents per share, 16 cents ahead of the Zacks Consensus Estimate.
Coca Cola has been a steady player in the choppy economy of the last year, beating estimates in each of the last four quarters by an average of 11 cents, or 115%.
Dividend Raised
The company also announced a dividend increase of 4 cents, with CEO John Brock saying the decision was a reflection of the company's stronger balance sheet.
Estimates Jump
Analysts were quick to upgrade their earnings forecasts after the nice beat, with the current-year estimate adding 20 cents and climbing to $1.52 per share. The next-year estimate is also up 20 cents to $1.67, a 10% growth projection.
Valuation
Based on the current-year estimate, this stock has a P/E multiple of 13X, a discount to the overall market with the nice next-year growth projection in tow.
The Chart
Shares of CCE jumped past a short-term level just above $17 in late July after reporting the strong quarter. Take a look below.
Last Week's Momentum Zacks Rank Buy Stocks
Boston Beer Inc. (SAM - Snapshot Report) is fresh off the heels of another strong quarter, sending shares higher in spite of the company's somewhat cautious tone about tough competition and a tepid consumer environment. Read Full Article.
Bed Bath & Beyond, Inc. (BBBY - Analyst Report) posted strong first-quarter results in June that easily beat expectations, sending estimates higher as analysts revise their earnings projections.Read Full Article.
Canadian Solar, Inc. (CSIQ - Analyst Report) is up huge since bottoming out in March on surging estimates and cost cutting measures. Read Full Article.
Whole Foods Market, Inc. (WFMI - Analyst Report) has rebounded nicely from its November low as the company continues to pursue price and promotional initiatives to attract value conscious consumers. Read Full Article.
Read the full analyst report on CCE
Loading Stories...
0.00