Coca-Cola Enterprises Inc. (NYSE:CCE) – Analysts at Jefferies Group decreased their Q3 2016 earnings estimates for Coca-Cola Enterprises in a report issued on Thursday. Jefferies Group analyst K. Grundy now forecasts that the firm will post earnings per share of $0.72 for the quarter, down from their prior estimate of $0.74. Jefferies Group also issued estimates for Coca-Cola Enterprises’ Q4 2016 earnings at $0.48 EPS, FY2016 earnings at $2.13 EPS, FY2017 earnings at $2.41 EPS and FY2018 earnings at $2.71 EPS.
CCE has been the topic of a number of other research reports. TheStreet cut Coca-Cola Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. Vetr upgraded Coca-Cola Enterprises from a “hold” rating to a “strong-buy” rating and set a $55.50 target price on the stock in a report on Tuesday, May 31st. Barclays PLC reduced their price objective on Coca-Cola Enterprises from $54.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 1st. Susquehanna restated a “neutral” rating on shares of Coca-Cola Enterprises in a research note on Tuesday, June 21st. Finally, Zacks Investment Research cut Coca-Cola Enterprises from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 7th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Coca-Cola Enterprises presently has a consensus rating of “Buy” and an average price target of $50.54.
Shares of Coca-Cola Enterprises (NYSE:CCE) opened at 39.52 on Monday. The firm has a market capitalization of $19.07 billion, a PE ratio of 30.03 and a beta of 1.06. Coca-Cola Enterprises has a 12 month low of $33.67 and a 12 month high of $54.54. The company has a 50 day moving average price of $38.98 and a 200-day moving average price of $43.48.
Coca-Cola Enterprises (NYSE:CCE) last announced its earnings results on Thursday, September 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.11. The firm earned $2.87 billion during the quarter, compared to analyst estimates of $3.03 billion. Coca-Cola Enterprises had a net margin of 8.21% and a return on equity of 61.11%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share.
Several hedge funds have recently made changes to their positions in the company. Natixis raised its stake in shares of Coca-Cola Enterprises by 210.8% in the first quarter. Natixis now owns 1,244,819 shares of the company’s stock worth $63,162,000 after buying an additional 844,256 shares during the last quarter. National Pension Service raised its stake in shares of Coca-Cola Enterprises by 4.6% in the first quarter. National Pension Service now owns 148,277 shares of the company’s stock worth $7,524,000 after buying an additional 6,453 shares during the last quarter. Prudential PLC acquired a new stake in shares of Coca-Cola Enterprises during the first quarter worth about $254,000. Renaissance Technologies LLC raised its stake in shares of Coca-Cola Enterprises by 17.3% in the first quarter. Renaissance Technologies LLC now owns 1,651,392 shares of the company’s stock worth $83,792,000 after buying an additional 244,100 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Coca-Cola Enterprises by 0.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 323,404 shares of the company’s stock worth $16,410,000 after buying an additional 1,000 shares during the last quarter. 27.14% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.1909 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, September 29th. Coca-Cola Enterprises’s payout ratio is 54.79%.
About Coca-Cola Enterprises
Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.
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