In the latest trading session, Coca-Cola (KO) closed at $71.01, marking a -0.98% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.08%.

Coming into today, shares of the world's largest beverage maker had lost 1.78% in the past month. In that same time, the Consumer Staples sector gained 0.53%, while the S&P 500 gained 1.21%.

The investment community will be paying close attention to the earnings performance of Coca-Cola in its upcoming release. The company is slated to reveal its earnings on October 23, 2024. On that day, Coca-Cola is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 1.35%. At the same time, our most recent consensus estimate is projecting a revenue of $11.64 billion, reflecting a 2.59% fall from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.85 per share and a revenue of $46.03 billion, signifying shifts of +5.95% and +0.61%, respectively, from the last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Coca-Cola. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Coca-Cola possesses a Zacks Rank of #2 (Buy).

Investors should also note Coca-Cola's current valuation metrics, including its Forward P/E ratio of 25.17. This represents a premium compared to its industry's average Forward P/E of 18.76.

It's also important to note that KO currently trades at a PEG ratio of 3.97. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Beverages - Soft drinks was holding an average PEG ratio of 2.95 at yesterday's closing price.

The Beverages - Soft drinks industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 192, this industry ranks in the bottom 24% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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CocaCola Company (The) (KO) : Free Stock Analysis Report

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