Vintage Wine Estates (VWE) to Release Quarterly Earnings on Wednesday

Vintage Wine Estates (NASDAQ:VWEGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, November 9th. Analysts expect the company to announce earnings of 0.10 per share for the quarter. Vintage Wine Estates has set its FY 2023 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Vintage Wine Estates (NASDAQ:VWEGet Rating) last issued its earnings results on Tuesday, September 13th. The company reported 0.17 EPS for the quarter, topping the consensus estimate of 0.08 by 0.09. The business had revenue of 75.54 million during the quarter, compared to analysts’ expectations of 76.70 million. Vintage Wine Estates had a positive return on equity of 7.52% and a negative net margin of 0.19%. On average, analysts expect Vintage Wine Estates to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vintage Wine Estates Stock Performance

Shares of Vintage Wine Estates stock opened at 2.39 on Tuesday. The stock has a market cap of $147.44 million, a PE ratio of 5.40 and a beta of 1.48. The business has a fifty day simple moving average of 3.53 and a 200-day simple moving average of 6.50. The company has a quick ratio of 0.55, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. Vintage Wine Estates has a 12 month low of 2.37 and a 12 month high of 12.38.

Wall Street Analysts Forecast Growth

VWE has been the subject of several recent analyst reports. Canaccord Genuity Group cut Vintage Wine Estates from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $5.50 in a research report on Wednesday, September 14th. Canaccord Genuity Group cut Vintage Wine Estates from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $5.50 in a research report on Wednesday, September 14th. Cowen decreased their target price on Vintage Wine Estates to $7.50 in a research report on Thursday, September 15th. Citigroup decreased their target price on Vintage Wine Estates from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, September 16th. Finally, DA Davidson cut Vintage Wine Estates from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $3.00 in a research report on Tuesday, October 4th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of 5.08.

Hedge Funds Weigh In On Vintage Wine Estates

Several institutional investors have recently bought and sold shares of the stock. Citigroup Inc. increased its stake in shares of Vintage Wine Estates by 433.0% in the first quarter. Citigroup Inc. now owns 40,437 shares of the company’s stock worth $399,000 after purchasing an additional 32,851 shares during the period. Rhumbline Advisers bought a new position in shares of Vintage Wine Estates in the second quarter worth about $339,000. Jane Street Group LLC bought a new position in shares of Vintage Wine Estates in the first quarter worth about $229,000. Credit Suisse AG bought a new position in shares of Vintage Wine Estates in the second quarter worth about $210,000. Finally, Royal Bank of Canada increased its stake in shares of Vintage Wine Estates by 69.0% in the first quarter. Royal Bank of Canada now owns 18,856 shares of the company’s stock worth $186,000 after purchasing an additional 7,701 shares during the period. 46.63% of the stock is currently owned by institutional investors.

About Vintage Wine Estates

(Get Rating)

Vintage Wine Estates, Inc produces and sells wines and craft spirits in the United States, Canada, and internationally. The company offers its products under the Layer Cake, Cameron Hughes, Clos Pegase, B.R. Cohn, Firesteed, Bar Dog, Kunde, Cherry Pie, and others. It also owns and operates hospitality facilities; and provides bottling, fulfillment, and storage services to other companies on a contract basis.

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