Coca-Cola (KO) ended the recent trading session at $58.28, demonstrating a -1.3% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.

Shares of the world's largest beverage maker have depreciated by 2.4% over the course of the past month, outperforming the Consumer Staples sector's loss of 2.75% and lagging the S&P 500's gain of 1.6%.

The investment community will be paying close attention to the earnings performance of Coca-Cola in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. The company is forecasted to report an EPS of $0.70, showcasing a 2.94% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $10.96 billion, showing a 0.15% drop compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.81 per share and a revenue of $45.85 billion, indicating changes of +4.46% and +0.21%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coca-Cola. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Coca-Cola is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Coca-Cola is currently exchanging hands at a Forward P/E ratio of 20.99. Its industry sports an average Forward P/E of 18.45, so one might conclude that Coca-Cola is trading at a premium comparatively.

Investors should also note that KO has a PEG ratio of 3.35 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Beverages - Soft drinks was holding an average PEG ratio of 2.23 at yesterday's closing price.

The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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