Ambev (NYSE:ABEV) Hits New 52-Week Low at $2.42

Ambev S.A. (NYSE:ABEVGet Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $2.42 and last traded at $2.43, with a volume of 3991159 shares trading hands. The stock had previously closed at $2.48.

Analyst Ratings Changes

A number of analysts have issued reports on ABEV shares. StockNews.com started coverage on shares of Ambev in a report on Friday, January 26th. They issued a “buy” rating on the stock. Morgan Stanley upgraded shares of Ambev from an “underweight” rating to an “equal weight” rating in a report on Friday, December 8th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Ambev in a report on Friday, March 1st. Barclays downgraded shares of Ambev from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $3.50 to $3.00 in a report on Monday, March 4th. Finally, Citigroup initiated coverage on shares of Ambev in a report on Thursday, December 7th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $3.20.

View Our Latest Analysis on Ambev

Ambev Stock Performance

The company has a market capitalization of $38.04 billion, a PE ratio of 13.42, a PEG ratio of 2.45 and a beta of 1.08. The company has a current ratio of 0.89, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $2.55 and its 200-day simple moving average is $2.65.

Ambev (NYSE:ABEVGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $4.04 billion during the quarter. Ambev had a net margin of 18.19% and a return on equity of 17.60%. On average, research analysts predict that Ambev S.A. will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Ambev

Hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its position in shares of Ambev by 83.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,802,121 shares of the company’s stock worth $12,389,000 after purchasing an additional 2,188,454 shares during the period. Brandes Investment Partners LP lifted its position in shares of Ambev by 5.1% in the 3rd quarter. Brandes Investment Partners LP now owns 5,224,315 shares of the company’s stock worth $13,479,000 after purchasing an additional 254,347 shares during the period. Scotia Capital Inc. lifted its position in shares of Ambev by 1.3% in the 3rd quarter. Scotia Capital Inc. now owns 1,388,888 shares of the company’s stock worth $3,583,000 after purchasing an additional 17,863 shares during the period. Westwood Global Investments LLC lifted its position in shares of Ambev by 3.1% in the 3rd quarter. Westwood Global Investments LLC now owns 107,182,643 shares of the company’s stock worth $276,531,000 after purchasing an additional 3,229,411 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of Ambev by 49.1% in the 3rd quarter. Schroder Investment Management Group now owns 12,195,474 shares of the company’s stock worth $31,464,000 after purchasing an additional 4,013,914 shares during the period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Company Profile

(Get Free Report)

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.

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