BidaskClub Lowers Ambev S.A. (ABEV) to Buy
BidaskClub lowered shares of Ambev S.A. (NYSE:ABEV) from a strong-buy rating to a buy rating in a report published on Thursday.
Several other research firms have also commented on ABEV. Credit Suisse Group upgraded shares of Ambev from a neutral rating to an outperform rating in a research report on Tuesday, September 12th. Zacks Investment Research lowered shares of Ambev from a buy rating to a hold rating in a research report on Monday, July 31st. Finally, Barclays PLC restated a hold rating on shares of Ambev in a research report on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $6.10.
Ambev (ABEV) opened at 6.59 on Thursday. The firm has a market capitalization of $103.51 billion, a P/E ratio of 27.57 and a beta of 0.66. Ambev has a 1-year low of $4.70 and a 1-year high of $6.86. The company’s 50-day moving average price is $6.31 and its 200-day moving average price is $5.85.
Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.04. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. Equities research analysts expect that Ambev will post $0.23 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in ABEV. Verition Fund Management LLC acquired a new stake in shares of Ambev in the second quarter valued at about $111,000. King Luther Capital Management Corp acquired a new stake in shares of Ambev in the first quarter valued at about $121,000. Stephens Inc. AR acquired a new stake in shares of Ambev in the second quarter valued at about $132,000. Aureus Asset Management LLC grew its position in shares of Ambev by 21.8% in the first quarter. Aureus Asset Management LLC now owns 22,470 shares of the company’s stock valued at $138,000 after purchasing an additional 4,015 shares during the period. Finally, Virtu Financial LLC grew its position in shares of Ambev by 38.5% in the second quarter. Virtu Financial LLC now owns 28,800 shares of the company’s stock valued at $158,000 after purchasing an additional 8,000 shares during the period. Institutional investors and hedge funds own 7.30% of the company’s stock.
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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