NewAge, Inc. (NASDAQ:NBEV) Expected to Announce Quarterly Sales of $110.79 Million

Wall Street analysts expect NewAge, Inc. (NASDAQ:NBEVGet Rating) to announce sales of $110.79 million for the current quarter, according to Zacks. Two analysts have provided estimates for NewAge’s earnings, with the highest sales estimate coming in at $117.50 million and the lowest estimate coming in at $104.09 million. NewAge posted sales of $125.52 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.7%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that NewAge will report full-year sales of $457.00 million for the current financial year, with estimates ranging from $447.11 million to $466.89 million. For the next financial year, analysts forecast that the company will post sales of $487.42 million, with estimates ranging from $468.37 million to $506.47 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow NewAge.

Separately, Zacks Investment Research raised shares of NewAge from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 27th.

Shares of NASDAQ NBEV opened at $0.35 on Tuesday. NewAge has a 52-week low of $0.34 and a 52-week high of $2.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 1.42. The firm’s fifty day moving average is $0.51 and its two-hundred day moving average is $0.86. The company has a market cap of $47.88 million, a P/E ratio of -1.09 and a beta of 1.33.

Several large investors have recently modified their holdings of NBEV. Citigroup Inc. boosted its holdings in shares of NewAge by 108.1% in the fourth quarter. Citigroup Inc. now owns 34,587 shares of the company’s stock valued at $36,000 after purchasing an additional 17,963 shares during the period. Advisor Group Holdings Inc. increased its holdings in NewAge by 40.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 31,530 shares of the company’s stock worth $43,000 after purchasing an additional 9,023 shares during the period. Monaco Asset Management SAM purchased a new position in NewAge during the 4th quarter worth $52,000. Allspring Global Investments Holdings LLC purchased a new position in NewAge during the 4th quarter worth $61,000. Finally, Invesco Ltd. increased its holdings in NewAge by 28.1% during the 3rd quarter. Invesco Ltd. now owns 45,170 shares of the company’s stock worth $63,000 after purchasing an additional 9,910 shares during the period. 25.95% of the stock is currently owned by institutional investors and hedge funds.

About NewAge (Get Rating)

NewAge, Inc develops, markets, sells, and distributes healthy products in the United States, Japan, China, and internationally. The company operates in two segments, Direct / Social Selling and Direct Store. It provides health and wellness, energy drink, essential oil and anti-aging skincare, cosmetic, beverage, snacks, water and air filtration, and personal care products, as well as weight management, nutritional supplement, nutraceutical, and slenderiize products; diagnostic products, such as DNA testing and diagnostic kits and products; and CBD products.

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