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Coca-Cola Enterprises Affirms 2012 Guidance; Sees 10% Growth in 2013 (CCE)
Coca-Cola Enterprises Inc ( CCE ) reaffirmed its 2012 guidance with higher expectations and estimates 10% growth in 2013.
The bottling giant is expecting to earn $2.20 to $2.24 per share, with results expected to be on the higher end of the range. Wall Street analysts estimate that CCE will earn $2.23 per share in 2012.
Looking ahead to 2013, Coca Cola Enterprises sees earnings to grow by 10% on comparable and currency neutral basis.
"Our 2012 results will reflect our ability to deliver solid earnings growth by closely managing each aspect of our business and continuing world class marketplace execution in difficult operating conditions," said John F. Brock, chairman and chief executive officer. "Going forward, we will rely on our global operating framework, our successful brands, increased effectiveness through our business transformation effort, and the skill and dedication of our employees.
"These elements of our work are essential to our success, and ultimately will enable us to continue to achieve our most important goal - creating increased value for our shareowners."
Coca-Cola Enterprises shares were down 12 cents, or -0.39%, in premarket trading on Tuesday.
The Bottom Line
Shares of Coca-Cola ( CCE ) have a 2.06% dividend yield, based on last night's closing stock price of $31.09. The stock has technical support in the $29-30 price area. If the shares can firm up, we see overhead resistance around the $32-$35 price levels.
Coca-Cola Enterprises Inc ( CCE )is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.