Wall Street expects PepsiCo Inc PEP to announce $2.29 in earnings per share when the soft drink giant announces third-quarter earnings before market hours Tuesday.
Analysts also expect $23.83 billion in revenues.
Let’s look at what the charts indicate for PepsiCo stock and how it currently maps against Wall Street estimates.
PepsiCo Chart Bearish Ahead Of Q3 Earnings
PepsiCo stock is currently in a strongly bearish trend. The stock is up 4.1% over the past year, but it’s down 2.86% year to date.
Pepsi’s share price of $167.97 currently sits below its five, 20 and 50-day exponential moving averages. This indicates persistent downward pressure.
Chart created using Benzinga Pro
Read Also: This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday
The stock is also below its eight-day simple moving average of $169.57 and its 20-day SMA of $173.01, reinforcing bearish signals.
The 50-day and 200-day SMAs, at $173.80 and $170.80 respectively, further suggest the stock remains under selling pressure.
Chart created using Benzinga Pro
Additionally, the Moving Average Convergence Divergence (MACD) indicator is at a negative 1.59, adding to the bearish outlook.
However, with an RSI of 34.53, PepsiCo stock is approaching oversold territory, which could attract some bullish interest in the near term.
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PepsiCo Analysts Bullish, See Some Upside
The consensus analyst rating on PepsiCo stock stands at a Buy currently with a price target of $187.81 a share.
The latest analyst ratings from RBC Capital, Barclays and JPMorgan, released in early October, suggest an average price target of $182.33 for PepsiCo stock, indicating an 8.40% potential upside.
Price Action: PepsiCo stock closed the trading day Friday at $167.97, down 0.33%.
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