Ambev (NYSE:ABEV) Hits New 52-Week Low at $2.24

Ambev S.A. (NYSE:ABEV) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.24 and last traded at $2.27, with a volume of 672608 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ABEV shares. StockNews.com started coverage on shares of Ambev in a research note on Friday, January 26th. They set a “buy” rating on the stock. Barclays lowered Ambev from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $3.50 to $3.00 in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ambev in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ambev presently has an average rating of “Moderate Buy” and an average price target of $3.20.

Ambev Stock Performance

The company has a market capitalization of $36.15 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 2.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 0.89. The firm has a 50-day simple moving average of $2.49 and a two-hundred day simple moving average of $2.63.

Ambev (NYSE:ABEV) last released its earnings results on Thursday, February 29th. The company reported $0.06 earnings per share 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 return on equity of 17.60% and a net margin of 18.19%. On average, sell-side analysts anticipate that Ambev S.A. will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Ambev

Several institutional investors have recently bought and sold shares of ABEV. Radnor Capital Management LLC acquired a new position in Ambev in the 1st quarter valued at about $25,000. Perennial Advisors LLC acquired a new position in shares of Ambev during the third quarter worth about $26,000. Coldstream Capital Management Inc. acquired a new position in shares of Ambev during the third quarter worth about $26,000. Integrated Wealth Concepts LLC acquired a new position in shares of Ambev during the third quarter worth about $26,000. Finally, Ieq Capital LLC acquired a new position in shares of Ambev during the third quarter worth about $27,000. 8.13% of the stock is owned by institutional investors and hedge funds.

Ambev Company Profile

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.