Coca-Cola European Partners (CCE) Updates FY 2018 Earnings Guidance

Coca-Cola European Partners (NYSE:CCE) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.59-2.61 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.64. The company issued revenue guidance of $11.28324-11.339 billion, compared to the consensus revenue estimate of $13.13 billion.

Shares of NYSE:CCE opened at $44.19 on Friday. Coca-Cola European Partners has a 12-month low of $36.17 and a 12-month high of $46.16. The firm has a market capitalization of $21.09 billion, a PE ratio of 18.49, a P/E/G ratio of 2.27 and a beta of 0.67. The company has a current ratio of 1.02, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77.

Coca-Cola European Partners (NYSE:CCE) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Coca-Cola European Partners had a return on equity of 16.35% and a net margin of 6.26%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the business posted $0.67 EPS. The business’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts forecast that Coca-Cola European Partners will post 2.45 EPS for the current year.

CCE has been the topic of a number of analyst reports. UBS Group upgraded Coca-Cola European Partners to a neutral rating in a report on Friday, September 14th. ValuEngine upgraded Coca-Cola European Partners from a sell rating to a hold rating in a report on Thursday, August 9th. Susquehanna Bancshares cut their price target on Coca-Cola European Partners from $50.00 to $48.00 and set a neutral rating on the stock in a report on Thursday. Jefferies Financial Group reiterated a hold rating and issued a $46.00 price target on shares of Coca-Cola European Partners in a report on Wednesday, August 15th. Finally, Zacks Investment Research downgraded Coca-Cola European Partners from a buy rating to a hold rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $47.29.

About Coca-Cola European Partners

Coca-Cola European Partners plc, together with its subsidiaries, produces, distributes, and markets a range of nonalcoholic ready-to-drink beverages. The company offers water, juice, isotonic, sparkling flavor and energy drink, and other products. It provides its products primarily under the Coca-Cola, Fanta, and Monster brands, as well as Coca-Cola Zero Sugar, Vio, Royal Bliss, Honest, and GLACÉAU Smartwater brands.

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Earnings History and Estimates for Coca-Cola European Partners (NYSE:CCE)

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