Wall Street brokerages forecast that Coca-Cola European Partners PLC (NYSE:CCEP) will announce sales of $3.26 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Coca-Cola European Partners’ earnings. The highest sales estimate is $3.35 billion and the lowest is $3.21 billion. Coca-Cola European Partners reported sales of $3.14 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The business is expected to issue its next quarterly earnings report on Thursday, February 21st.

On average, analysts expect that Coca-Cola European Partners will report full year sales of $13.17 billion for the current fiscal year, with estimates ranging from $13.09 billion to $13.25 billion. For the next year, analysts expect that the company will report sales of $13.60 billion, with estimates ranging from $13.40 billion to $13.79 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Coca-Cola European Partners.

Coca-Cola European Partners (NYSE:CCEP) last announced its earnings results on Thursday, October 25th. The company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.69 billion. Coca-Cola European Partners had a return on equity of 16.36% and a net margin of 6.26%.

CCEP has been the subject of a number of research reports. Jefferies Financial Group upgraded Coca-Cola European Partners from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. ValuEngine upgraded Coca-Cola European Partners from a “hold” rating to a “buy” rating in a research report on Monday, December 17th. Finally, Zacks Investment Research upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Tuesday, January 8th.

A number of hedge funds have recently made changes to their positions in CCEP. Capital World Investors acquired a new stake in Coca-Cola European Partners in the third quarter worth about $1,442,321,000. Deutsche Bank AG acquired a new stake in Coca-Cola European Partners in the third quarter worth about $121,648,000. Epoch Investment Partners Inc. acquired a new stake in Coca-Cola European Partners in the third quarter worth about $80,101,000. OZ Management LP acquired a new stake in Coca-Cola European Partners in the third quarter worth about $78,896,000. Finally, Vanguard Group Inc. bought a new position in Coca-Cola European Partners during the third quarter worth about $78,105,000. Hedge funds and other institutional investors own 31.53% of the company’s stock.

CCEP stock traded up $0.83 during midday trading on Friday, reaching $46.70. The stock had a trading volume of 995,201 shares, compared to its average volume of 1,085,945. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.77. The firm has a market cap of $22.38 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.78 and a beta of 0.61. Coca-Cola European Partners has a twelve month low of $36.17 and a twelve month high of $49.43.

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 GLAC√ČAU Smartwater brands.

Read More: What is the downside to momentum investing?

Get a free copy of the Zacks research report on Coca-Cola European Partners (CCEP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Coca-Cola European Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola European Partners and related companies with MarketBeat.com's FREE daily email newsletter.