PepsiCo, Inc. (PEP) is set to release its earnings results for the fourth quarter on February 9, 2024. Analysts are expecting the company to report quarterly earnings of $1.72 per share, compared to $1.67 per share in the same period last year. Additionally, PepsiCo is projected to report revenue of $28.40 billion, up from $28 billion in the year-earlier quarter, according to data from Benzinga Pro.
The beverage and snack giant recently made headlines with the appointment of Ram Krishnan as CEO for PepsiCo Beverages North America. This move is expected to strengthen the company’s position in the highly competitive beverage market.
PepsiCo shares rose 1.4% to close at $173.85 on Thursday, indicating positive investor sentiment leading up to the earnings release. The company’s strong brand portfolio and global reach have contributed to its consistent performance over the years.
For investors interested in the latest analyst ratings on PepsiCo, they can access the information on Benzinga’s Analyst Stock Ratings page. The page allows readers to sort by stock ticker, company name, analyst firm, rating change, or other variables, providing a comprehensive overview of the company’s performance.
Benzinga’s most accurate analysts have also rated PepsiCo in the recent period. Barclays analyst Lauren Lieberman maintained an Overweight rating on the stock and lowered the price target from $181 to $179 on January 16, 2024. JP Morgan analyst Andrea Teixeira downgraded the stock from Overweight to Neutral and reduced the price target from $185 to $176 on December 19, 2023. Morgan Stanley analyst Dara Mohsenian maintained an Equal-Weight rating and slashed the price target from $210 to $190 on October 11, 2023. Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and lowered the price target from $196 to $170 on October 9, 2023. Deutsche Bank analyst Steve Powers maintained a Hold rating and raised the price target from $193 to $195 on July 14, 2023.
Overall, PepsiCo has consistently delivered solid financial performance, and analysts’ ratings reflect a positive outlook for the company. As one of the leading players in the beverage and snack industry, PepsiCo continues to innovate and adapt to changing consumer preferences, ensuring its position in the market for years to come.
In conclusion, investors will be eagerly awaiting PepsiCo’s earnings results for the fourth quarter of 2023. The company’s strong brand portfolio and global presence, combined with its ability to adapt to changing consumer trends, bode well for its future growth and success.
