Coca-Cola (KO) Looks To Prove It's The Real Thing In Q3
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Coca-Cola (NYSE: KO) closed slightly lower today ahead of its third quarter earnings release before the market opens tomorrow, October 20, 2009.
Analysts currently expect KO to report quarterly EPS of $0.82 on revenues of 8.12 billion. The street high estimate on KO is $62, and $52 is the low.
Coca-Cola reported mixed results for Q209, beating the street EPS estimates and falling short on consensus revenue estimates. KO cited a stronger dollar versus foreign currencies as one reason for the weakened EPS.
Shares of KO are up 7.4% since its second quarter report.
Data from Bloomberg shows that 14 analysts have Buy ratings on KO and 3 have Holds on the stock. Coca-Cola analysts have an average price target of $58.27.
Deutsche Bank recently upgraded the beverage giant from hold to buy, and gave Coca-Cola a $62 price target. Duetsche commented, "On better currency and commodity outlook, stable volumes and improved domestic bottler relations, we look for higher EPS visibility at Coke and a more favorable valuation overlay for the group." They continued, "We believe the positive environmental shifts, ongoing execution capabilities abroad, strong cash flow generation and share repurchase potential will continue to drive investor flight to quality: Coke is it."
UBS also upgraded their price target on Coca-Cola, from $50 to $57, while they maintained their Neutral rating.
On September 29, 2009, Citi initiated coverage on Coca-Cola (NYSE: KO) with a Buy rating and a $61 price target.
Goldman Sachs does not see the American Beverages sector moving too much on Q3 earnings because 1) their forecasts are generally in-line with consensus, 2) they expect only modest guidance raises for some, and 3) the inflection point in earnings is likely to be another quarter or two out. Goldman goes on that volumes remain soft in soft drinks but pricing remains firm.
Coca-Cola will issue its Q309 results via press release at approximately 7:30 AM (EDT) on October 20, 2009. Stay tuned to StreetInsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
Analysts currently expect KO to report quarterly EPS of $0.82 on revenues of 8.12 billion. The street high estimate on KO is $62, and $52 is the low.
Coca-Cola reported mixed results for Q209, beating the street EPS estimates and falling short on consensus revenue estimates. KO cited a stronger dollar versus foreign currencies as one reason for the weakened EPS.
Shares of KO are up 7.4% since its second quarter report.
Data from Bloomberg shows that 14 analysts have Buy ratings on KO and 3 have Holds on the stock. Coca-Cola analysts have an average price target of $58.27.
Deutsche Bank recently upgraded the beverage giant from hold to buy, and gave Coca-Cola a $62 price target. Duetsche commented, "On better currency and commodity outlook, stable volumes and improved domestic bottler relations, we look for higher EPS visibility at Coke and a more favorable valuation overlay for the group." They continued, "We believe the positive environmental shifts, ongoing execution capabilities abroad, strong cash flow generation and share repurchase potential will continue to drive investor flight to quality: Coke is it."
UBS also upgraded their price target on Coca-Cola, from $50 to $57, while they maintained their Neutral rating.
On September 29, 2009, Citi initiated coverage on Coca-Cola (NYSE: KO) with a Buy rating and a $61 price target.
Goldman Sachs does not see the American Beverages sector moving too much on Q3 earnings because 1) their forecasts are generally in-line with consensus, 2) they expect only modest guidance raises for some, and 3) the inflection point in earnings is likely to be another quarter or two out. Goldman goes on that volumes remain soft in soft drinks but pricing remains firm.
Coca-Cola will issue its Q309 results via press release at approximately 7:30 AM (EDT) on October 20, 2009. Stay tuned to StreetInsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
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