Coca-Cola European Partners (CCE) Rating Reiterated by Jefferies Financial Group
Coca-Cola European Partners (NYSE:CCE)‘s stock had its “hold” rating restated by analysts at Jefferies Financial Group in a research note issued on Wednesday. They currently have a $46.00 target price on the stock. Jefferies Financial Group’s price objective points to a potential upside of 7.58% from the company’s current price. Jefferies Financial Group also issued estimates for Coca-Cola European Partners’ FY2018 earnings at $2.64 EPS, FY2019 earnings at $2.84 EPS and FY2020 earnings at $3.04 EPS.
The analysts wrote, “CCE hosted the sell-side for an upbeat cocktail hour Tuesday (8/14) evening in NYC. While the co. is capably navigating the sugar tax regime in GB, headwinds in France and Spain continue to abate and we would expect results to improve in the back half of the year, with 3Q off to a strong start. EV/EBITDA, valuation screens as full compared to bottling peers at 9x. Maintain Hold.””
A number of other research analysts have also commented on the company. Zacks Investment Research upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co increased their price objective on Coca-Cola European Partners from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, August 10th. ValuEngine upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, Goldman Sachs Group upgraded Coca-Cola European Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.50.
Coca-Cola European Partners (NYSE:CCE) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Coca-Cola European Partners had a return on equity of 15.85% and a net margin of 5.97%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. equities research analysts expect that Coca-Cola European Partners will post 2.66 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in CCE. BlackRock Inc. boosted its position in shares of Coca-Cola European Partners by 7.6% in the 2nd quarter. BlackRock Inc. now owns 12,348,709 shares of the company’s stock worth $501,852,000 after purchasing an additional 871,324 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Coca-Cola European Partners by 8.9% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,398,899 shares of the company’s stock worth $474,879,000 after purchasing an additional 930,340 shares during the last quarter. Boston Partners boosted its position in shares of Coca-Cola European Partners by 1.7% in the 2nd quarter. Boston Partners now owns 10,782,583 shares of the company’s stock worth $438,204,000 after purchasing an additional 177,650 shares during the last quarter. FMR LLC boosted its position in shares of Coca-Cola European Partners by 12.3% in the 2nd quarter. FMR LLC now owns 6,644,819 shares of the company’s stock worth $270,045,000 after purchasing an additional 728,064 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Coca-Cola European Partners by 24.3% in the 2nd quarter. Wells Fargo & Company MN now owns 3,572,178 shares of the company’s stock worth $145,174,000 after purchasing an additional 698,437 shares during the last quarter. Hedge funds and other institutional investors own 32.42% of the company’s stock.
Coca-Cola European Partners Company Profile
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.
Further Reading: Stock Symbol
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