Macquarie Downgrades Coca-Cola European Partners (CCE) to Neutral
Macquarie cut shares of Coca-Cola European Partners (NYSE:CCE) from an outperform rating to a neutral rating in a research report released on Friday morning, MarketBeat.com reports. The brokerage currently has $40.00 target price on the stock.
Several other brokerages also recently commented on CCE. Susquehanna Bancshares set a $33.00 price objective on shares of Coca-Cola European Partners and gave the company a sell rating in a research note on Wednesday, November 29th. Zacks Investment Research downgraded shares of Coca-Cola European Partners from a strong-buy rating to a hold rating in a research note on Monday, September 11th. Deutsche Bank began coverage on shares of Coca-Cola European Partners in a research note on Wednesday, December 13th. They set a buy rating and a $43.00 price objective for the company. UBS Group downgraded shares of Coca-Cola European Partners to a neutral rating in a research note on Monday, November 13th. Finally, Jefferies Group reissued a hold rating and issued a $45.00 price target on shares of Coca-Cola European Partners in a research note on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $43.75.
Coca-Cola European Partners (NYSE:CCE) opened at $39.15 on Friday. The company has a market cap of $18,900.00, a PE ratio of 22.29, a PEG ratio of 1.90 and a beta of 0.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.76 and a current ratio of 0.95. Coca-Cola European Partners has a one year low of $31.44 and a one year high of $44.75.
Coca-Cola European Partners (NYSE:CCE) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.12). The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. Coca-Cola European Partners had a net margin of 6.78% and a return on equity of 15.60%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $0.67 earnings per share. sell-side analysts predict that Coca-Cola European Partners will post 2.45 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in CCE. Artisan Partners Limited Partnership raised its stake in Coca-Cola European Partners by 13.7% in the second quarter. Artisan Partners Limited Partnership now owns 16,633,760 shares of the company’s stock worth $676,495,000 after buying an additional 2,006,947 shares in the last quarter. Capital World Investors raised its stake in Coca-Cola European Partners by 6.8% in the second quarter. Capital World Investors now owns 22,083,787 shares of the company’s stock worth $898,148,000 after buying an additional 1,398,929 shares in the last quarter. Kingdon Capital Management L.L.C. raised its stake in Coca-Cola European Partners by 225.0% in the second quarter. Kingdon Capital Management L.L.C. now owns 1,334,398 shares of the company’s stock worth $54,270,000 after buying an additional 923,797 shares in the last quarter. Cannell Peter B & Co. Inc. bought a new position in Coca-Cola European Partners in the third quarter worth about $35,993,000. Finally, First Eagle Investment Management LLC raised its stake in Coca-Cola European Partners by 14.6% in the third quarter. First Eagle Investment Management LLC now owns 6,373,721 shares of the company’s stock worth $265,274,000 after buying an additional 811,835 shares in the last quarter. 29.33% of the stock is owned by institutional investors.
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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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