Ambev (NYSE:ABEV) Issues Quarterly Earnings Results, Hits Expectations

Ambev (NYSE:ABEV) announced its quarterly earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04, reports. Ambev had a return on equity of 16.94% and a net margin of 17.93%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.68 billion.

Ambev Price Performance

Shares of ABEV opened at $2.15 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.78 and a current ratio of 1.11. Ambev has a fifty-two week low of $2.01 and a fifty-two week high of $3.00. The firm has a 50-day simple moving average of $2.33 and a 200-day simple moving average of $2.26. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 5.40 and a beta of 1.05.

Institutional Trading of Ambev

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABEV. HTLF Bank purchased a new position in shares of Ambev in the 3rd quarter valued at approximately $26,000. Lake Street Advisors Group LLC purchased a new position in Ambev in the 1st quarter valued at $28,000. Riversedge Advisors LLC acquired a new position in Ambev in the 3rd quarter valued at $31,000. Foster Group Inc. purchased a new position in Ambev during the 3rd quarter worth $33,000. Finally, BSW Wealth Partners acquired a new stake in shares of Ambev in the 3rd quarter worth $33,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com initiated coverage on shares of Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. UBS Group cut their target price on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.75.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.