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 8.140. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They set a neutral rating and a $174.00 target price on the stock. StockNews.com lowered PepsiCo from a buy rating to a hold rating in a research note on Friday, September 20th. Bank of America lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set a buy rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $182.00 to $185.00 and gave the company a neutral rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a sector perform rating on the stock in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $185.29.

PepsiCo Stock Performance

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

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.25 earnings per share. On average, equities analysts forecast that PepsiCo will post 8.13 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

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.