Coca-Cola Enterprises (NYSE:CCE)‘s stock had its “neutral” rating restated by Zacks in a report issued on Friday, Analyst Ratings Network reports. They currently have a $40.00 price target on the stock. Zacks‘ price target points to a potential upside of 4.74% from the stock’s previous close.
Zacks‘ analyst wrote, “Coca-Cola Enterprises’ second-quarter 2013 adjusted earnings of $0.77 per share beat the Zacks Consensus Estimate by 2.7%. Earnings increased 5.5% over the prior-year quarter as declining costs, favorable currency translation and a lower share count made up for the slim revenue growth. Revenues missed the Zacks Consensus Estimate and declined 2.5% year over year due to worse-than-expected weather conditions and a sluggish consumer spending environment in the quarter. The company also lowered its net sales and margin outlook for the full year. However, we believe that the company’s strong brand portfolio, solid cash position, cost saving initiatives and accelerated share buybacks will help it cope with the current environment and spur profitability. Double-digit growth in health and energy drinks category in the second quarter of 2013 deserves a special mention. We therefore, maintain a Neutral recommendation on the stock.”
Coca-Cola Enterprises (NYSE: CCE) traded down 0.84% on Friday, hitting $37.87. Coca-Cola Enterprises has a 1-year low of $28.44 and a 1-year high of $39.40. The stock’s 50-day moving average is currently $36.08. The company has a market cap of $10.378 billion and a price-to-earnings ratio of 17.90.
Coca-Cola Enterprises (NYSE:CCE) last released its earnings data on Thursday, July 25th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.01. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company posted $0.73 earnings per share. Coca-Cola Enterprises’s revenue was down 2.4% compared to the same quarter last year. Coca-Cola Enterprises has set its FY13 guidance at $2.45-2.50 EPS. Analysts expect that Coca-Cola Enterprises will post $2.48 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CCE. Analysts at Barclays Capital raised their price target on shares of Coca-Cola Enterprises from $38.00 to $42.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Credit Suisse reiterated a “buy” rating on shares of Coca-Cola Enterprises in a research note to investors on Thursday, July 18th. They now have a $48.00 price target on the stock. Finally, analysts at Nomura raised their price target on shares of Coca-Cola Enterprises from $35.00 to $38.00 in a research note to investors on Thursday, July 18th. They now have a “neutral” rating on the stock.
Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.89.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, September 4th.
Coca-Cola Enterprises, Inc (NYSE: CCE) markets, produces, and distributes nonalcoholic beverages.
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