PepsiCo (NASDAQ:PEP) Issues FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

PepsiCo Price Performance

Shares of PEP stock traded down $0.73 during trading hours on Thursday, reaching $176.68. The company had a trading volume of 7,436,495 shares, compared to its average volume of 5,872,530. PepsiCo has a 12-month low of $155.83 and a 12-month high of $196.88. The company has a market capitalization of $242.85 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 2.69 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The stock has a fifty day moving average of $169.22 and a 200-day moving average of $167.76.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. The company had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. PepsiCo’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.50 EPS. On average, equities analysts anticipate that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s payout ratio is 76.09%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on PepsiCo from $178.00 to $181.00 and gave the company a neutral rating in a research note on Wednesday. Royal Bank of Canada reaffirmed a sector perform rating and issued a $180.00 target price on shares of PepsiCo in a report on Monday, February 12th. Morgan Stanley upgraded shares of PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price target for the company in a report on Monday, March 18th. StockNews.com cut shares of PepsiCo from a buy rating to a hold rating in a research report on Monday, February 12th. Finally, Jefferies Financial Group increased their target price on PepsiCo from $199.00 to $209.00 and gave the company a buy rating in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has an average rating of Moderate Buy and an average target price of $187.42.

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.