PepsiCo (NASDAQ:PEP) Issues FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of at least $8.15 for the period, compared to the consensus estimate of $8.14. PepsiCo also updated its FY 2024 guidance to 8.150- EPS.

PepsiCo Stock Performance

Shares of PEP stock opened at $170.42 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market capitalization of $234.29 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo has a one year low of $157.43 and a one year high of $183.41. The company has a 50 day moving average price of $173.68 and a 200 day moving average price of $172.07.

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

PepsiCo Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PEP shares. Morgan Stanley downgraded shares of PepsiCo from an overweight rating to an equal weight rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. DZ Bank downgraded PepsiCo from a buy rating to a hold rating and set a $183.00 price target for the company. in a report on Friday, July 19th. TD Cowen reduced their price objective on PepsiCo from $200.00 to $190.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. StockNews.com lowered PepsiCo from a buy rating to a hold rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a sector perform rating for the company in a report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.