Eduard Steinbach Plc. gives The Coca Cola "Buy" Rating
Steinbach Analysts upgrade rating from "Sell" to "Buy" for The Coca Cola (KO)
According to Steinbach senior research analyst Julian Hempsworth, "Coca-Cola's increased marketing investments are driving volume growth in stable markets like North America. Moreover, the company is on track to achieve total annualized productivity of approximately $3.6 billion by 2019 from the initiatives implemented under this program since its beginning. Also, Coca-Cola's new revenue platforms should drive growth over the long term. However, the top line needs to show sustained improvement. Coca-Cola's sales are getting affected by declining demand in certain emerging and developing markets and shift in consumer preference. Also, severe macroeconomic challenges in certain international markets and the stronger U.S. dollar have impacted results for the cola giant, which generates about half of its sales abroad. Meanwhile, shares have underperformed the broader market since the beginning of the year."
Other analysts have also recently issued reports about the company. Goldman Sachs Group Inc set a $38.00 target price on The Coca-Cola and gave the company a "sell" rating in a report on Friday, February 10th. Gabelli restated a "hold" rating on shares of The Coca-Cola in a report on Saturday, February 11th. Susquehanna Bancshares Inc set a $38.00 target price on The Coca-Cola and gave the company a "hold" rating in a report on Saturday, March 25th. Jefferies Group LLC set a $42.00 price target on The Coca-Cola and gave the company a "hold" rating in a research note on Tuesday, March 14th. Finally, BMO Capital Markets reaffirmed a "buy" rating and issued a $45.00 price target on shares of The Coca-Cola in a research note on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of "Hold" and a consensus target price of $44.39.
The Coca-Cola (KO) opened at 43.57 on Friday. The Coca-Cola has a 12-month low of $39.88 and a 12-month high of $46.01. The stock has a market capitalization of $186.16 billion, a price-to-earnings ratio of 30.66 and a beta of 0.69. The company has a 50 day moving average of $42.87 and a 200-day moving average of $41.91.
The Coca-Cola (KO) last issued its earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.44 by $0.01. The company had revenue of $9.12 billion during the quarter, compared to analysts' expectations of $8.85 billion. The Coca-Cola had a net margin of 15.59% and a return on equity of 32.94%. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that The Coca-Cola will post $1.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Tuesday, June 13th. The Coca-Cola's dividend payout ratio is currently 93.33%.
In other The Coca-Cola news several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BLB&B Advisors LLC increased its position in The Coca-Cola by 4.4% in the third quarter. BLB&B Advisors LLC now owns 61,900 shares of the company's stock worth $2,620,000 after buying an additional 2,632 shares during the last quarter. Gemmer Asset Management LLC increased its position in The Coca-Cola by 8.8% in the third quarter. Gemmer Asset Management LLC now owns 3,694 shares of the company's stock worth $156,000 after buying an additional 300 shares during the last quarter. Northwest Investment Counselors LLC increased its position in The Coca-Cola by 1.6% in the third quarter. Northwest Investment Counselors LLC now owns 7,399 shares of the company's stock worth $313,000 after buying an additional 115 shares during the last quarter. Putnam FL Investment Management Co. acquired a new position in The Coca-Cola during the third quarter worth approximately $269,000. Finally, CWM LLC increased its position in The Coca-Cola by 28.0% in the third quarter. CWM LLC now owns 6,398 shares of the company's stock worth $271,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 63.88% of the company's stock.
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