PepsiCo (NASDAQ:PEP) Releases FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of at least $8.15 for the period, compared to the consensus estimate of $8.16. PepsiCo also updated its FY 2024 guidance to 8.150- EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEP shares. Wedbush restated an outperform rating and set a $195.00 price objective on shares of PepsiCo in a research report on Tuesday. Morgan Stanley raised PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price target on the stock in a research report on Monday, March 18th. Barclays lifted their target price on PepsiCo from $183.00 to $184.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Jefferies Financial Group boosted their price target on PepsiCo from $199.00 to $209.00 and gave the company a buy rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. upped their target price on PepsiCo from $178.00 to $181.00 and gave the company a neutral rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $187.33.

PepsiCo Stock Up 2.8 %

Shares of PepsiCo stock traded up $4.73 during trading hours on Wednesday, hitting $175.95. 3,097,002 shares of the company’s stock traded hands, compared to its average volume of 5,757,238. The stock has a 50 day simple moving average of $168.84 and a 200-day simple moving average of $167.63. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. The company has a market cap of $241.85 billion, a PE ratio of 26.50, a PEG ratio of 2.77 and a beta of 0.53. PepsiCo has a twelve month low of $155.83 and a twelve month high of $196.88.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. Equities research analysts anticipate that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 2.88%. PepsiCo’s payout ratio is currently 77.02%.

About PepsiCo

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.