Coca-Cola European Partners plc (CCE) Expected to Announce Quarterly Sales of $3.01 Billion

Equities analysts expect that Coca-Cola European Partners plc (NYSE:CCE) will post $3.01 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Coca-Cola European Partners’ earnings. The highest sales estimate is $3.02 billion and the lowest is $2.98 billion. Coca-Cola European Partners reported sales of $2.78 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The firm is expected to issue its next earnings report on Tuesday, March 20th.

According to Zacks, analysts expect that Coca-Cola European Partners will report full year sales of $3.01 billion for the current year, with estimates ranging from $12.33 billion to $12.76 billion. For the next fiscal year, analysts expect that the company will post sales of $12.85 billion per share, with estimates ranging from $12.63 billion to $13.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Coca-Cola European Partners.

Coca-Cola European Partners (NYSE:CCE) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.12). The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.99 billion. Coca-Cola European Partners had a net margin of 6.78% and a return on equity of 15.60%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS.

A number of equities analysts recently weighed in on CCE shares. Zacks Investment Research raised Coca-Cola European Partners from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Monday, October 9th. UBS reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $46.00) on shares of Coca-Cola European Partners in a report on Monday, August 14th. Barclays set a $47.00 price target on Coca-Cola European Partners and gave the stock a “buy” rating in a report on Sunday, August 13th. Deutsche Bank reaffirmed a “hold” rating and issued a $46.00 price target (up previously from $44.00) on shares of Coca-Cola European Partners in a report on Friday, August 11th. Finally, Susquehanna Bancshares reiterated a “hold” rating on shares of Coca-Cola European Partners in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $44.88.

A number of institutional investors have recently modified their holdings of the stock. Capital World Investors grew its position in Coca-Cola European Partners by 6.8% in the second quarter. Capital World Investors now owns 22,083,787 shares of the company’s stock worth $898,148,000 after acquiring an additional 1,398,929 shares during the period. Artisan Partners Limited Partnership lifted its stake in Coca-Cola European Partners by 0.8% during the third quarter. Artisan Partners Limited Partnership now owns 16,772,887 shares of the company’s stock worth $698,088,000 after purchasing an additional 139,127 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Coca-Cola European Partners by 6.4% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,506,938 shares of the company’s stock worth $478,918,000 after purchasing an additional 692,923 shares in the last quarter. Boston Partners lifted its stake in Coca-Cola European Partners by 1.2% during the second quarter. Boston Partners now owns 10,511,025 shares of the company’s stock worth $427,483,000 after purchasing an additional 125,412 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Coca-Cola European Partners by 14.6% during the third quarter. First Eagle Investment Management LLC now owns 6,373,721 shares of the company’s stock worth $265,274,000 after purchasing an additional 811,835 shares in the last quarter. Institutional investors own 29.35% of the company’s stock.

Shares of Coca-Cola European Partners (NYSE:CCE) traded up $0.22 during mid-day trading on Friday, hitting $39.54. The stock had a trading volume of 2,140,637 shares, compared to its average volume of 1,340,690. The firm has a market cap of $19,244.48, a PE ratio of 17.05, a PEG ratio of 2.10 and a beta of 0.91. Coca-Cola European Partners has a fifty-two week low of $31.01 and a fifty-two week high of $44.75. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.76.

The business also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a $0.24 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.43%. Coca-Cola European Partners’s dividend payout ratio (DPR) is presently 54.86%.

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About Coca-Cola European Partners

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

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