PepsiCo (NASDAQ:PEP) Updates FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 8.150- for the period, compared to the consensus estimate of 8.140. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

PepsiCo Stock Performance

PEP opened at $170.42 on Wednesday. The firm has a fifty day moving average price of $173.68 and a 200 day moving average price of $172.07. PepsiCo has a 1 year low of $157.43 and a 1 year high of $183.41. The stock has a market cap of $234.29 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that PepsiCo will post 8.13 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a buy rating on the stock in a research note on Monday, September 30th. TD Cowen cut their target price on shares of PepsiCo from $200.00 to $190.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Wells Fargo & Company decreased their price target on shares of PepsiCo from $175.00 to $170.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $182.00 to $185.00 and gave the stock a neutral rating in a report on Tuesday, October 1st. Finally, BNP Paribas started coverage on PepsiCo in a report on Monday, June 24th. They set a neutral rating and a $174.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of Hold and a consensus target price of $185.29.

PepsiCo Company Profile

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.