Soft drink maker PepsiCo, Inc. (PEP) on Monday reaffirmed its full-year 2010 earnings forecast, following the completion of the acquisition of its two largest bottling companies.
The Purchase, New York-based company said it still expects full-year earnings per share to grow by 11% to 13% from 2009 levels, which implies 2010 earnings of $4.18 to $4.26 U.S. per share.
On average, Wall Street analysts currently expect $4.14 U.S. per share for the year.
The company also predicted that earnings would grow by "low double-digit" percentages for fiscal 2011 and 2012.
PepsiCo shares were mostly flat in premarket trading Monday.
The Bottom Line
Shares of PEP have been recommended since July 30, when the stock was trading at $56.33 U.S. The company has a 2.88% dividend yield based on Friday's closing stock price of $56.33 U.S.
PepsiCo, Inc. (PEP) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars.
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