PepsiCo (NASDAQ:PEP) Updates FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $178.00 to $181.00 and gave the stock a neutral rating in a report on Wednesday. Argus downgraded shares of PepsiCo from a buy rating to a hold rating in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $181.00 to $184.00 and gave the stock a hold rating in a report on Friday, February 9th. Wedbush reissued an outperform rating and issued a $195.00 price target on shares of PepsiCo in a report on Tuesday. Finally, Morgan Stanley raised shares of PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price target on the stock in a report on Monday, March 18th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $187.33.

PepsiCo Price Performance

PEP traded up $5.19 on Wednesday, reaching $176.41. The company had a trading volume of 4,336,820 shares, compared to its average volume of 5,775,292. The business has a 50 day simple moving average of $168.84 and a 200 day simple moving average of $167.63. The company has a market cap of $242.48 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.77 and a beta of 0.53. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.68 and a current ratio of 0.85. PepsiCo has a 52-week low of $155.83 and a 52-week high of $196.88.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The business had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same period last year, the business earned $1.50 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s payout ratio is currently 77.02%.

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.