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Coca-Cola (KO) closed at $63.10 in the latest trading session, marking a +1.01% move from the prior day. This move outpaced the S&P 500's daily loss of 0.97%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.49%.

Heading into today, shares of the world's largest beverage maker had gained 6.5% over the past month, outpacing the Consumer Staples sector's gain of 1.1% and the S&P 500's gain of 4.71% in that time.

Investors will be hoping for strength from Coca-Cola as it approaches its next earnings release, which is expected to be April 25, 2022. On that day, Coca-Cola is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 3.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.97 billion, up 10.58% from the year-ago period.

KO's full-year Zacks Consensus Estimates are calling for earnings of $2.45 per share and revenue of $41.99 billion. These results would represent year-over-year changes of +5.6% and +8.63%, respectively.

Any recent changes to analyst estimates for Coca-Cola should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.25% lower within the past month. Coca-Cola is currently a Zacks Rank #3 (Hold).

Investors should also note Coca-Cola's current valuation metrics, including its Forward P/E ratio of 25.49. This valuation marks a premium compared to its industry's average Forward P/E of 21.88.

It is also worth noting that KO currently has a PEG ratio of 3.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. KO's industry had an average PEG ratio of 2.77 as of yesterday's close.

The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 16% of all 250+ industries.

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.

You can find more information on all of these metrics, and much more, on Zacks.com.