Ambev S.A. (ABEV) Upgraded to Outperform by Credit Suisse Group
Several other equities analysts have also commented on the company. Zacks Investment Research lowered Ambev from a buy rating to a hold rating in a research report on Monday, July 31st. Barclays PLC restated a hold rating on shares of Ambev in a report on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $6.10.
Shares of Ambev (ABEV) opened at 6.655 on Tuesday. The company’s 50 day moving average is $6.19 and its 200-day moving average is $5.80. The stock has a market capitalization of $104.53 billion, a price-to-earnings ratio of 27.729 and a beta of 0.66. Ambev has a 1-year low of $4.70 and a 1-year high of $6.68.
Ambev (NYSE:ABEV) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, hitting the 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 return on equity of 23.24% and a net margin of 27.14%. Equities analysts anticipate that Ambev will post $0.23 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the business. Wedbush Securities Inc. increased its holdings in Ambev by 2.2% during the 1st quarter. Wedbush Securities Inc. now owns 17,365 shares of the company’s stock worth $100,000 after purchasing an additional 369 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Ambev during the 2nd quarter worth approximately $111,000. King Luther Capital Management Corp purchased a new stake in Ambev during the 1st quarter worth approximately $121,000. Stephens Inc. AR purchased a new stake in Ambev during the 2nd quarter worth approximately $132,000. Finally, FFT Wealth Management LLC increased its holdings in Ambev by 84.7% during the 1st quarter. FFT Wealth Management LLC now owns 23,489 shares of the company’s stock worth $135,000 after purchasing an additional 10,771 shares during the last quarter. Institutional investors own 7.29% of the company’s stock.
Ambev Company Profile
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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