Q2 2017 Earnings Estimate for Coca-Cola European Partners PLC Issued By Jefferies Group (NYSE:CCE)

Coca-Cola European Partners PLC (NYSE:CCE) – Equities research analysts at Jefferies Group lifted their Q2 2017 earnings estimates for Coca-Cola European Partners PLC in a research note issued on Thursday. Jefferies Group analyst K. Grundy now forecasts that the company will earn $0.69 per share for the quarter, up from their previous forecast of $0.67. Jefferies Group currently has a “Hold” rating and a $42.00 target price on the stock. Jefferies Group also issued estimates for Coca-Cola European Partners PLC’s Q3 2017 earnings at $0.76 EPS, Q4 2017 earnings at $0.53 EPS, FY2017 earnings at $2.34 EPS, FY2018 earnings at $2.61 EPS and FY2019 earnings at $2.81 EPS.

Coca-Cola European Partners PLC (NYSE:CCE) last announced its earnings results on Thursday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Coca-Cola European Partners PLC had a net margin of 6.35% and a return on equity of 15.29%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.41 earnings per share.

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Several other research analysts have also issued reports on CCE. Zacks Investment Research upgraded shares of Coca-Cola European Partners PLC from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Tuesday, March 21st. Barclays PLC restated a “buy” rating and set a $42.00 price target on shares of Coca-Cola European Partners PLC in a report on Friday, March 24th. J P Morgan Chase & Co started coverage on shares of Coca-Cola European Partners PLC in a report on Monday, April 3rd. They set a “neutral” rating for the company. Citigroup Inc. lowered shares of Coca-Cola European Partners PLC from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. Finally, ABN Amro restated a “sell” rating on shares of Coca-Cola European Partners PLC in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Coca-Cola European Partners PLC currently has a consensus rating of “Hold” and a consensus price target of $42.33.

Coca-Cola European Partners PLC (CCE) opened at 40.29 on Friday. The firm has a 50 day moving average of $40.70 and a 200-day moving average of $36.70. Coca-Cola European Partners PLC has a 52 week low of $30.55 and a 52 week high of $41.56. The company has a market capitalization of $19.11 billion, a P/E ratio of 25.53 and a beta of 0.95.

Several hedge funds have recently added to or reduced their stakes in CCE. Korea Investment CORP raised its stake in Coca-Cola European Partners PLC by 12.6% in the first quarter. Korea Investment CORP now owns 121,800 shares of the company’s stock valued at $4,591,000 after buying an additional 13,600 shares in the last quarter. First Manhattan Co. raised its stake in Coca-Cola European Partners PLC by 1.7% in the first quarter. First Manhattan Co. now owns 10,922 shares of the company’s stock valued at $435,000 after buying an additional 187 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Coca-Cola European Partners PLC during the first quarter valued at $2,844,000. Boston Advisors LLC raised its stake in Coca-Cola European Partners PLC by 0.6% in the first quarter. Boston Advisors LLC now owns 16,094 shares of the company’s stock valued at $607,000 after buying an additional 101 shares in the last quarter. Finally, Pinnacle Bank bought a new stake in Coca-Cola European Partners PLC during the first quarter valued at $182,000. Institutional investors own 31.52% of the company’s stock.

Coca-Cola European Partners PLC Company Profile

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.

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

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