What to Expect From Pepsi Earnings
PepsiCo is scheduled to report its third-quarter earnings Thursday before the market opens.
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PepsiCo Inc. (NYSE: PEP) is set to report its third-quarter earnings Thursday before the market opens. This food and beverage giant beat estimates yet again in the previous quarter. This earnings beat and higher guidance for 2014 encouraged investors to chase shares higher, from just above $88.50 to $90.18 the day of the report. Now shares are above $93 right before the new earnings report. Year to date, Pepsi is up almost 15%.
Thomson Reuters has consensus estimates of $1.29 in earnings per share and $17.09 billion in revenues. The third quarter of the previous year it reported earnings of $1.24 per share and $16.91 billion in revenues. Estimates for the fourth quarter are $1.14 in earnings per share and $20.19 billion in revenues.
Lions Gate Enertainment announced Wednesday morning that it will partner with Doritos, among others, for its release of the third installment of the blockbuster Hunger Games series. Doritos will introduce thematic packaging at retailers, run a sweepstakes online and offer prizes.
Pepsi has seen its shares rise in the weeks ahead of the report, and the year high of $94.21 was just on September 19. Share prices hit a relative low this quarter of $87.46 at the beginning of August but have since made a solid recovery to Tuesday’s close of $93.10, roughly a 6.5% increase.
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Pepsi’s chart has been very interesting as the 50-day moving average has been a key support level. That average is currently down at $91.62. As a testament for much the stock has risen this year, the key 200-day moving average is all the way down at $85.44.
The company’s shares were up 0.12% at $93.21 with two and a half hours left in regular trading. Its stock has a consensus price target from analysts of $98.60 and a 52-week trading range of $77.01 to $94.21.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
