PepsiCo (NASDAQ:PEP) Updates FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP - Get Free Report) 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.

PepsiCo Trading Down 3.0 %

NASDAQ PEP traded down $5.24 during trading on Tuesday, hitting $171.22. 9,128,434 shares of the company's stock traded hands, compared to its average volume of 5,799,144. The firm has a market cap of $235.34 billion, a P/E ratio of 26.21, a PEG ratio of 2.73 and a beta of 0.53. PepsiCo has a 12-month low of $155.83 and a 12-month high of $196.88. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68. The stock has a fifty day moving average of $168.80 and a two-hundred day moving average of $167.55.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The company had revenue of $27.84 billion during the quarter, compared to analyst estimates of $28.40 billion. During the same quarter last year, the firm posted $1.67 earnings per share. The firm's revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 2.96%. PepsiCo's dividend payout ratio is 77.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PEP shares. Argus downgraded PepsiCo from a buy rating to a hold rating in a report on Wednesday, April 3rd. Wedbush reissued an outperform rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday. StockNews.com downgraded shares of PepsiCo from a buy rating to a hold rating in a report on Monday, February 12th. Jefferies Financial Group boosted their price objective on PepsiCo from $199.00 to $209.00 and gave the company a buy rating in a research report on Friday, April 5th. Finally, Morgan Stanley raised PepsiCo from an equal weight rating to an overweight rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of Moderate Buy and an average price target of $186.92.

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.