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CCE

Coca-Cola European Partners

$37.22

-0.18 (-0.48%)

07:43
02/15/18
02/15
07:43
02/15/18
07:43

Coca-Cola European Partners sees FY18 low single-digit revenue growth

For 2018, CCEP expects revenue growth in a low single-digit range, with both operating profit and earnings per share growth of between 6% and 7% Each of these growth figures is on a comparable and fx-neutral basis when compared to 2017 comparable results. This revenue growth guidance excludes the accounting impact of incremental soft drinks industry taxes. These taxes are expected to add approximately 2% to 3% to revenue growth and approximately 4% to cost of goods growth. At recent rates, currency translation would have a negligible impact on 2018 full-year diluted earnings per share. CCEP expects 2018 free cash flow in the range of EUR$850M to EUR$900M including the expected benefit from improved working capital offset by the impact of restructuring and integration costs. Capital expenditures are expected to be approximately EUR$525M to EUR$575M, including approximately EUR$75M of capital expenditures related to synergies. Weighted-average cost of debt is expected to be approximately 2% The comparable effective tax rate for 2018 is expected to be approximately 25% CCEP remains on track to achieve pre-tax run-rate savings of EUR$315M to EUR$340M through synergies by mid-2019. Further, CCEP expects to have realised approximately 75% of the target by year-end 2018. Restructuring cash costs to achieve these synergies are expected to be approximately 2 1/4 times expected savings and includes cash costs associated with pre-transaction close accruals. Given these factors, currency exchange rates, and our outlook for 2018, CCEP expects year-end net debt to adjusted EBITDA for 2018 to be towards the low-end of our target range of 2.5 to 3 times. As a result, during 2018, CCEP expects to continue to evaluate returning incremental cash to shareholders.

  • 19

    Feb

CCE Coca-Cola European Partners
$37.22

-0.18 (-0.48%)

11/13/17
SUSQ
11/13/17
DOWNGRADE
SUSQ
Negative
Coca-Cola European Partners downgraded to Negative from Neutral at Susquehanna
11/13/17
SUSQ
11/13/17
DOWNGRADE
Target $33
SUSQ
Negative
Coca-Cola European Partners downgraded to Negative at Susquehanna
As previously reported, Susquehanna analyst Pablo Zuanic downgraded Coca-Cola European Partners to Negative from Neutral. The analyst believes current consensus estimates do not properly reflect the challenges ahead, including the U.K. sugar tax, foreign exchange inflation, higher input costs, slower tourism, and further regulatory risk. Zuanic lowered his price target to $33 from $38 on Coca-Cola European Partners shares.
12/13/17
DBAB
12/13/17
INITIATION
Target $43
DBAB
Buy
Coca-Cola European Partners initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Steve Powers started Coca-Cola European Partners with a Buy rating and $43 price target. The analyst believes concerns over carbonated soft drinks are pricing into the shares, leaving "optionality skewed to the upside."
01/05/18
MACQ
01/05/18
DOWNGRADE
Target $40
MACQ
Neutral
Coca-Cola European Partners downgraded to Neutral from Outperform at Macquarie
Macquirie analyst Caroline Levy downgraded Coca-Cola European Partners to Neutral from Outperform and lowered is price target to $40 from $45. Levy cites volume pressures, especially in France, input cost pressures, margin pressures, and lack of M&A for the downgrade and expects growth to slow to 4% in FY18 from 11% in FY17.

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KRA

Kraton

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HT

Hersha Hospitality

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-0.27 (-1.44%)

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CARS

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VERI

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NGVT

Ingevity

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FUL

H.B. Fuller

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EMN

Eastman Chemical

$72.77

-0.36 (-0.49%)

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DSW

DSW

$23.04

-1.19 (-4.91%)

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CE

Celanese

$89.79

-1.445 (-1.58%)

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ASIX

AdvanSix

$25.33

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GWW

Grainger

$285.60

-3.88 (-1.34%)

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NFLX

Netflix

$269.80

4.66 (1.76%)

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VIVHY

Vivendi

$0.00

(0.00%)

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$1,040.02

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NX

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RARX

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SAEX

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TROX

Tronox

$7.05

-0.25 (-3.42%)

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ALGT

Allegiant Travel

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SPLK

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NTDOY

Nintendo

$0.00

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GOOG

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$1,040.02

3.5 (0.34%)

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$1,052.80

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$1,040.02

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