Coke Approaches $63, Projections for $74
The Coca-Cola Company (NYSE:KO) shares seem like they are just treading water, the company hits yet another 52-week high today, closing trading at $62.92, up 0.19% or $0.12 on volume of 9.91M shares traded.
The company remains strong with a projected EPS of $0.72 for the last quarter of this year, which is up 9.5% from the year ago EPS of $0.66. Sales for the company are strong at $32.1B, outpacing its industry’s average of $25.6B. Coke’s income checks in at $7.58B. The debt to equity ratio is 0.48, which is slightly lower than its industry average of 0.51.
Checking some technicals for the stock, we see that at Coca-Cola’s current price of $62.92, it has a first support at $59.76 (50-day moving average) and the second support level will be the 200-day moving average of $55.27.
Assigning analysts estimates for forward P/Es on the company the estimated range for the stock price in December 2011 is $71.41 to $76.62, with an average of $74.30. That projects to a handsome 18.09% gain over the current price.