Coca-Cola Enterprises: The Glass May Be Half-Empty
Timberwolf Equity Research • 11 Comments
Timberwolf Equity Research • 11 Comments
Yesterday, 11:05 AM
- Among consumer stocks covered by Susquehanna, the analysts say Mondelez (MDLZ -4.3%) and Coca-Cola European Partners (CCE -5.4%), along with Sodastream (SODA -2.7%), have the greatest earnings downside from a euro and pound that have gotten, well, pounded.
- The euro is currently down 2.3% against the dollar, while the pound is down 8.5%.
- "For those seeking to buy the dip, we would prefer MDLZ over CCE," the firm says, noting that 100% of CCE's revenues are exposed to those two currencies, it faces structural risks, and Coca-Cola's 48% ownership of CCE makes it an unlikely acquisition target.
- Acquisitive companies with U.S. dollar assets could go hunting in Europe, the analysts say, pointing to likely suitor Kraft Heinz (KHC -1.8%) -- a top pick for the firm, along with TreeHouse Foods (THS -0.6%) and Molson Coors (TAP -3.3%).
- Meanwhile, the possible ascendance of UKIP leader Nigel Farage in the UK or "anything that makes a Donald Trump presidency more likely" is bad for Mexico-heavy Constellation Brands (STZ -1.2%).
Mon, Jun. 20, 8:22 AM
- Susquehanna analyst Pablo Zuanic notes that SodaStream (NASDAQ:SODA), Mondelez International (NASDAQ:MDLZ), and Coca-Cola Enteprises (NYSE:CCE) face the most risk in the food and beverage sector from a British exit from the European Union.
- The Euro/Pound exposure of the three stocks is significantly higher than the average in the sector.
- Polls over the weekend showed a big swing toward the "remain" option which could calm concerns on SODA, CCE, and MDLZ. All three are stocks are higher in premarket trading amid a broad rally.
Thu, Jun. 9, 11:06 AM
- Coca-Cola Enterprises (CCE -0.6%) is tagged by 24/7 Wall Street as one of Merrill Lynch Bank of America's US Portfolio 1 stock picks that offers a "good play" for total return.
- Coca-Cola Enterprises recently merged with Coca-Cola Erfrischungsgetränke and Coca-Cola Iberian Partners which prompted its boot from the S&P 500 Index. The resulting index-related selling on CCE may have created a nice entry point.
Tue, May 31, 12:50 PM
Tue, May 31, 12:01 PM
Tue, May 31, 9:15 AM
Tue, May 31, 7:15 AM
- Evercore ISI upgrades Coca-Cola Enterprises (NYSE:CCE) to a Buy rating from Hold on a favorable view of the risk-reward profile of the beverage stock.
- The investment firm sets a price target of $45 on CCE.
- Shares of Coca-Cola Enterprises are up 4.7% YTD.
Tue, May 24, 5:35 PM
- Arthur J. Gallagher (AJG +1.2%) is heading to the S&P 500, to replace Coca-Cola Enterprises (NYSE:CCE).
- That move is effective after Friday's close, when the bottling operation is expected to close on a merger with Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränke, into Coca-Cola European Partners -- which will be ineligible for the index as it will be domiciled in Spain.
- At the same time, SmallCap 600 constituent Education Realty Trust (NYSE:EDR) will take Gallagher's place in the Midcap 400, and American Axle & Manufacturing Holdings (NYSE:AXL) will replace EDR in the SmallCap 600.
- After hours: AJG +0.5%; CCE -0.6%; EDR +1.2%; AXL +4.6%.
Thu, Apr. 28, 7:31 AM
Wed, Apr. 27, 5:30 PM
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Tue, Feb. 9, 1:59 PM
- The beverage sector is ahead of broad market averages after a positive read from Coca-Cola on demand and pricing.
- Gainers include Coca-Cola Bottling (COKE +5.7%), Monster Beverage MNST, Coca-Cola Enterprises (CCE +1.7%), Dr. Pepper Snapple (DPS +1.6%), National Beverage Corp. (FIZZ +7.8%), and Embotalledora (AKO.A, AKO.B).
- PepsiCo <<PEP> >drops earnings on the sector on February 11. Analysts expect revenue of $18.59B and EPS of $1.06 to be reported.
- Analysis: Coca-Cola Earnings: All That Matters (Feb. 9)
- Previously: Coca-Cola beats by $0.01, beats on revenue (Feb. 9)
- Previously: Global volume up 3% at Coca-Cola (Feb. 9)
- Previously: Coca-Cola: Conference call highlights and quick analysis (Feb. 9)
Fri, Jan. 29, 1:41 PM
- Susquehanna notes that a strong U.S. dollar is likely to force 2016 EPS estimates lower on major global food and beverage names.
- The blended drop vs. the U.S. dollar of the Euro, Canadian Dollar, UK Pound, Mexican Peso, and Brazilian Real is -10%, analyst Pablo Zuniac. Other firms are likely to have factored in a less disruptive F/X market with their 2016 estimates.
- Companies in harm's way include KO, MDLZ, BUD, TAP, GMCR, WWAV, CCE, KHC, and K.
- Related ETF: PBJ.
Coca-Cola European Partners Plc is a consumer packaged goods company. It produces, distributes and markets nonalcoholic ready-to-drink beverages. The company serves across Western Europe, including Andorra, Belgium, France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway,... More
Sector: Consumer Goods
Industry: Beverages - Soft Drinks
Country: United States
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