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.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $0.73 during trading hours on Thursday, reaching $176.68. The stock had a trading volume of 7,436,495 shares, compared to its average volume of 5,872,530. The firm has a market cap 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 current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The firm has a 50-day moving average of $169.22 and a 200-day moving average of $167.76.

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

PepsiCo Dividend Announcement

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

Analyst Upgrades and Downgrades

PEP has been the subject of several analyst reports. Wedbush reaffirmed an outperform rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday. Jefferies Financial Group upped their price objective on PepsiCo from $199.00 to $209.00 and gave the company a buy rating in a research note on Friday, April 5th. Citigroup raised PepsiCo from a neutral rating to a buy rating and increased their target price for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Argus downgraded PepsiCo from a buy rating to a hold rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley raised PepsiCo from an equal weight rating to an overweight rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target 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.