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Coca-Cola (KO) Stock Drops Despite Market Gains: Important Facts to Note
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The most recent trading session ended with Coca-Cola (KO - Free Report) standing at $59.57, reflecting a -0.43% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.22% gain on the day. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Shares of the world's largest beverage maker have appreciated by 2.59% over the course of the past month, underperforming the Consumer Staples sector's gain of 3.22% and outperforming the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Coca-Cola in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 13, 2024. The company is predicted to post an EPS of $0.48, indicating a 6.67% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $10.61 billion, showing a 4.78% escalation compared to the year-ago quarter.
Investors might also notice recent changes to analyst estimates for Coca-Cola. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Coca-Cola boasts a Zacks Rank of #2 (Buy).
From a valuation perspective, Coca-Cola is currently exchanging hands at a Forward P/E ratio of 21.33. This expresses a premium compared to the average Forward P/E of 18.58 of its industry.
Investors should also note that KO has a PEG ratio of 3.42 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Beverages - Soft drinks industry stood at 2.23 at the close of the market yesterday.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Coca-Cola (KO) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Coca-Cola (KO - Free Report) standing at $59.57, reflecting a -0.43% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.22% gain on the day. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Shares of the world's largest beverage maker have appreciated by 2.59% over the course of the past month, underperforming the Consumer Staples sector's gain of 3.22% and outperforming the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Coca-Cola in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 13, 2024. The company is predicted to post an EPS of $0.48, indicating a 6.67% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $10.61 billion, showing a 4.78% escalation compared to the year-ago quarter.
Investors might also notice recent changes to analyst estimates for Coca-Cola. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Coca-Cola boasts a Zacks Rank of #2 (Buy).
From a valuation perspective, Coca-Cola is currently exchanging hands at a Forward P/E ratio of 21.33. This expresses a premium compared to the average Forward P/E of 18.58 of its industry.
Investors should also note that KO has a PEG ratio of 3.42 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Beverages - Soft drinks industry stood at 2.23 at the close of the market yesterday.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.