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$3.06 Billion in Sales Expected for Coca-Cola European Partners plc (CCE) This Quarter

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Wall Street brokerages forecast that Coca-Cola European Partners plc (NYSE:CCE) will post $3.06 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Coca-Cola European Partners’ earnings. The lowest sales estimate is $2.98 billion and the highest is $3.13 billion. Coca-Cola European Partners posted sales of $2.78 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 15th.

According to Zacks, analysts expect that Coca-Cola European Partners will report full-year sales of $3.06 billion for the current year, with estimates ranging from $12.33 billion to $13.38 billion. For the next financial year, analysts forecast that the firm will post sales of $13.08 billion per share, with estimates ranging from $12.63 billion to $13.48 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Coca-Cola European Partners.

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

Several research firms recently commented on CCE. Zacks Investment Research upgraded shares of Coca-Cola European Partners from a “sell” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, January 9th. Susquehanna Bancshares set a $33.00 price objective on shares of Coca-Cola European Partners and gave the stock a “sell” rating in a research report on Wednesday, November 29th. UBS Group cut shares of Coca-Cola European Partners to a “neutral” rating in a research report on Monday, November 13th. Macquarie cut shares of Coca-Cola European Partners from an “outperform” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research report on Friday, January 5th. Finally, Deutsche Bank started coverage on shares of Coca-Cola European Partners in a research report on Wednesday, December 13th. They set a “buy” rating and a $43.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.38.

A number of hedge funds and other institutional investors have recently bought and sold shares of CCE. Schwab Charles Investment Management Inc. grew its holdings in shares of Coca-Cola European Partners by 43.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 78,781 shares of the company’s stock worth $3,205,000 after purchasing an additional 23,830 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Coca-Cola European Partners in the second quarter worth about $120,000. Alliancebernstein L.P. raised its stake in shares of Coca-Cola European Partners by 1.8% in the second quarter. Alliancebernstein L.P. now owns 69,934 shares of the company’s stock worth $2,844,000 after buying an additional 1,228 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Coca-Cola European Partners by 213.3% during the second quarter. TIAA CREF Investment Management LLC now owns 465,541 shares of the company’s stock worth $18,934,000 after purchasing an additional 316,952 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in shares of Coca-Cola European Partners during the second quarter worth about $2,228,000. 29.31% of the stock is owned by institutional investors and hedge funds.

Coca-Cola European Partners (NYSE CCE) traded up $0.12 during trading hours on Tuesday, hitting $40.89. 3,467,906 shares of the company’s stock traded hands, compared to its average volume of 1,399,085. Coca-Cola European Partners has a 12-month low of $33.89 and a 12-month high of $44.75. The firm has a market capitalization of $19,748.23, a P/E ratio of 23.37, a P/E/G ratio of 1.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.76 and a current ratio of 0.95.

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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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