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Company Update: PepsiCo Inc (NYSE:PEP) – PepsiCo’s 2Q profit beats expectations

[AAP] – PepsiCo’s second-quarter profit has topped Wall Street’s expectations as it slashed costs and sold more of its Frito-Lay snacks. The food and beverage company lifted its full-year earnings outlook and shares gained more than 2 per cent in premarket trading on Thursday. The company said revenue from its Frito-Lay North America unit rose on stronger sales volume and pricing. Read more on this. Pepsico, Inc. (PEP) , with a current value of $156.56B, opened at $108.53. Looking at today’s trading action, the company’s one day range from $107.60 to $109.00 with a trailing 52-week range being $76.48 to $109.00. PEP shares are currently priced at 22.39x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 35.48x earnings multiple. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $1.30 per share, which would be $0.02 worse than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $4.73 is a $0.16 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $15.37 Billion. If realized, that would be a 3.45% decrease over the year-ago quarter. More recently, Stifel downgraded PEP from Buy to Hold (Apr 14, 2016). Previously, Sterne Agee CRT downgraded PEP from Buy to Neutral. When considering if perhaps the stock is under or overvalued, the average price target is $112.28, which is 3.46% above where the stock opened this morning. See more in (NYSE:PEP) Similar Articles: Company Update: PepsiCo Inc (NYSE:PEP) – PepsiCo Declares Quarterly Dividend Stock Update: PepsiCo Inc (NYSE:PEP) – Twitter names PepsiCo CFO to its board of directors Company Update: PepsiCo Inc (NYSE:PEP) – PepsiCo Announces Leadership Changes
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