Coca-Cola Stock Loses Its Cool After Earnings

KO is struggling, despite an earnings and revenue beat

Digital Content Manager
Apr 21, 2020 at 9:37 AM
facebook X logo linkedin


While Coca-Cola Co (NYSE:KO) entered the earnings confessional this morning with first-quarter profits and revenue that exceeded analysts estimates, the shares of the soda giant are slipping in early market trading. KO is down 4.6% at $44.38 after the company also predicted its current-quarter sales would take a hit from the coronavirus lockdown, with half of its revenue tied up in public venue sales. 

On the charts, KO is running into pressure at its 40-day moving average, though the shares seem to have found a floor atop the $45 level since their early April bear gap. For the year, the equity is down around 16%, though it's still clinging to a month-to-date gain of roughly 5%. 

The brokerage bunch is mum on KO so far, though coming into today, most analysts were optimistic. Nine of the 15 in coverage call the equity a "buy" or better. Plus, the consensus 12-month price target of $53.26 is a 14.5% premium to last night's close. 

The options pits have taken a slightly more pessimistic stance. KO sports a 50-day call/put volume ratio of 0.67 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), that sits in the 89th percentile of its annual range. This means that while calls are still outnumbering puts on an overall basis, these bearish bets have rarely been more popular in the past 12 months. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI