Anticipated Q3 Results and Recent Forecasts
PepsiCo, Inc. PEP is set to reveal its third-quarter earnings before the market opens on Tuesday, October 8th.
Analysts predict that the company, headquartered in Purchase, New York, will report quarterly earnings of $2.30 per share, a rise from $2.25 per share in the same period last year. Revenue for the quarter is expected to stand at $23.85 billion, up from $23.45 billion in the previous year, according to data from Benzinga Pro.
Recent Developments
On October 1st, PepsiCo announced a definitive agreement to acquire Garza Food Ventures LLC, known as Siete Foods, for $1.2 billion.
Despite this news, PepsiCo’s shares dropped by 0.5% to close at $167.21 on Monday.
Analyst Ratings Overview
Let’s examine the recent ratings provided by Benzinga’s most accurate analysts for PepsiCo:
- B of A Securities analyst Bryan Spillane maintained a Buy rating and reduced the price target from $190 to $185 on September 30th, boasting an accuracy rate of 68%.
- Morgan Stanley analyst Dara Mohsenian downgraded the stock from Overweight to Equal-Weight with a price target of $185 on September 20th, holding an accuracy rate of 73%.
- Barclays analyst Lauren Lieberman upheld an Overweight rating and lowered the price target from $187 to $186 on October 4th, with an accuracy rate of 61%.
- Wells Fargo analyst Chris Carey sustained an Equal-Weight rating and decreased the price target from $175 to $170 on July 10th, maintaining an accuracy rate of 65%.
- TD Cowen analyst Robert Moskow retained a Buy rating and trimmed the price target from $200 to $190 on July 3rd, carrying an accuracy rate of 66%.
Insights from Analysts
Curious about investing in PepsiCo (PEP) shares? Here’s a snapshot of analyst sentiments:
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