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What Do Analysts Expect From Coca-Cola’s Q3 Earnings?

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The third-quarter earnings season will likely be the worst for U.S. companies in more than a decade. When does Coca-Cola report its earnings? What do analysts project for the soft drink maker? 

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Coca-Cola's earnings date and time

Coca-Cola has scheduled its third-quarter earnings for Oct. 22. The company will likely release its earnings at 6:55 a.m. ET. Coca-Cola will hold the earnings conference call at 8:30 a.m. ET. The analysts polled by Tikr expect Coca-Cola’s revenues to fall 12.1 percent YoY in the third quarter to $8.3 billion. The revenues fell by 28.5 percent in the sequential quarter. PepsiCo has fared better in 2020 because food product sales helped it offset lower soft drink sales.

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Analysts expect Coca-Cola to report an adjusted EPS of 0.46 in the third quarter, which is down 17.4 percent YoY. They expect the company's earnings to fall on a YoY basis for the next two quarters. Analysts expect Coca-Cola to return to growth by the second quarter of 2021.

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Coca-Cola stock premarket

Coca-Cola stock was trading 0.26 percent higher at $50.16 in premarket on Monday, Oct. 19. U.S. stock market futures point to a strong opening today with Nasdaq 100 futures up almost one percent in premarket.

What is Coca-Cola's stock price today?

Coca-Cola stock opened at $49.99 on Oct. 19, which is slightly below the previous closing. However, at 9:40 a.m. ET, the stock was trading at $50.44, which is a gain of 0.81 percent over the previous closing. So far, Coca-Cola stock is down almost 10 percent in 2020. The stock is underperforming the S&P 500, which is in the green for the year.

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Coca-Cola is among the top five companies in Berkshire Hathaway’s portfolio of publicly traded companies. Warren Buffett's company holds a 9.3 percent stake in Coca-Cola and is its biggest shareholder. Over the last few years, many people have criticized Buffett for his investments in Coca-Cola and Kraft Heinz.

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Coca-Cola's dividends

Coca-Cola has paid three dividends of $0.41 each this year. The company announced another dividend of $0.41 on Oct. 15 with a record date of Dec. 1. The dividend will be paid on Dec. 15. In 2020, Coca-Cola increased its dividend by 2.5 percent over last year. The dividend yield is 3.2 percent, which is higher than the S&P 500’s dividend yield.

What is Coca-Cola's stock price forecast?

According to estimates compiled by CNN, Coca-Cola has a median target price of $55, which is a premium of more than 9 percent over the current prices. The highest target price is $61, while the lowest target price is $49. Among the 21 analysts covering Coca-Cola stock, 17 recommend a buy or higher rating, while four recommend a hold. None of the analysts recommend a sell.

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