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Coca-Cola (KO) Declines More Than Market: Some Information for Investors
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Coca-Cola (KO - Free Report) ended the recent trading session at $60.04, demonstrating a -0.83% swing from the preceding day's closing price. This change lagged the S&P 500's 0.32% loss on the day. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.2%.
Shares of the world's largest beverage maker witnessed a gain of 1.46% over the previous month, beating the performance of the Consumer Staples sector with its gain of 1.08% and underperforming the S&P 500's gain of 4.59%.
Analysts and investors alike will be keeping a close eye on the performance of Coca-Cola in its upcoming earnings disclosure. The company's earnings report is set to go public on February 13, 2024. In that report, analysts expect Coca-Cola to post earnings of $0.48 per share. This would mark year-over-year growth of 6.67%. Alongside, our most recent consensus estimate is anticipating revenue of $10.63 billion, indicating a 5.02% upward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Coca-Cola. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 moved 0.07% higher. Coca-Cola is currently a Zacks Rank #2 (Buy).
Looking at valuation, Coca-Cola is presently trading at a Forward P/E ratio of 21.57. This expresses a premium compared to the average Forward P/E of 18.84 of its industry.
We can also see that KO currently has a PEG ratio of 3.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Beverages - Soft drinks stocks are, on average, holding a PEG ratio of 2.24 based on yesterday's closing prices.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Coca-Cola (KO) Declines More Than Market: Some Information for Investors
Coca-Cola (KO - Free Report) ended the recent trading session at $60.04, demonstrating a -0.83% swing from the preceding day's closing price. This change lagged the S&P 500's 0.32% loss on the day. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.2%.
Shares of the world's largest beverage maker witnessed a gain of 1.46% over the previous month, beating the performance of the Consumer Staples sector with its gain of 1.08% and underperforming the S&P 500's gain of 4.59%.
Analysts and investors alike will be keeping a close eye on the performance of Coca-Cola in its upcoming earnings disclosure. The company's earnings report is set to go public on February 13, 2024. In that report, analysts expect Coca-Cola to post earnings of $0.48 per share. This would mark year-over-year growth of 6.67%. Alongside, our most recent consensus estimate is anticipating revenue of $10.63 billion, indicating a 5.02% upward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Coca-Cola. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 moved 0.07% higher. Coca-Cola is currently a Zacks Rank #2 (Buy).
Looking at valuation, Coca-Cola is presently trading at a Forward P/E ratio of 21.57. This expresses a premium compared to the average Forward P/E of 18.84 of its industry.
We can also see that KO currently has a PEG ratio of 3.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Beverages - Soft drinks stocks are, on average, holding a PEG ratio of 2.24 based on yesterday's closing prices.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.