Coca-Cola’s earnings topped Wall Street analysts’ estimates last week at $0.69 per share against projections of $0.64. Revenue was slightly ahead of expectations as well, at $11.05 billion against $10.52 billion.
Investors receive a 2.90% dividend. Truist Financial has a Wall Street high $75 target price on Coca-Cola stock. The consensus target is $66.94, and the final trade on Monday was for $59.85 a share.
Genuine Parts
When the going gets tough in the economy, consumers looking to save money turn to do-it-yourself, and buying and installing replacement car parts is huge. Genuine Parts Co. (NYSE: GPC) distributes automotive replacement parts, as well as industrial parts and materials.
The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, sport utility vehicles, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment and heavy-duty equipment. It offers accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns and individuals.
Genuine Parts also distributes industrial replacement parts and related supplies, such as bearings, mechanical and electrical power transmission products, industrial automation and robotics, hoses, hydraulic and pneumatic components, industrial and safety supplies, and material handling products for original equipment manufacturer, as well as maintenance, repair and operation customers in equipment and machinery, food and beverage, forest product, primary metal, pulp and paper, mining, automotive, oil and gas, petrochemical, pharmaceutical, power generation, alternative energy, governments, transportation, ports and other industries.
In addition, the company provides various services and repairs comprising gearbox and fluid power and process pump assembly and repair, hydraulic drive shaft repair, electrical panel assembly and repair, hose and gasket manufacture and assembly, and other value-added services.
The company reported a strong quarter, with third-quarter 2022 adjusted earnings of $2.23 per share, up 18.6% year over year. The bottom-line results also beat the consensus forecast of $2.03 per share. Higher-than-expected sales and operating profits across both its segments resulted in this outperformance. Genuine Parts Company raised its fiscal year adjusted EPS outlook to $8.05 to $8.15 from $7.80 to $7.95. The consensus estimate is $7.96 for now.
Genuine Parts stock investors receive a 2.00% dividend. Argus’s $195 target price is well above the $157.22 consensus target. The stock closed on Monday at $177.86.
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