New York, February 8th (TradersHuddle.com) – Shares of PepsiCo (NYSE: PEP) were falling 0.30% to $66.56, as participants were adjusting positions ahead of the company reporting quarterly results tomorrow before the opening bell, as shares were seeing some pressure at midday, as the Dollar was regaining some ground versus the euro.
On average analysts expect earnings of $1.13 per share on revenues of $19.2 billion. Last quarter the company posted a 0.8% upside surprise, as it earned $1.31 per share. The highest earnings estimate is $1.17 per share, while last year earnings for the same period were $1.05 per share.
PepsiCo has basically been flat since the start of the year. Last month, the stock was downgraded to a Neutral at UBS. Yesterday, rival Coca-Cola (NYSE: KO) broke out above resistance amid beating earnings expectations on revenues that were just above consensus.