Ambev (NYSE:ABEV) Sets New 52-Week Low at $2.35

Ambev S.A. (NYSE:ABEV) reached a new 52-week low on Friday . The stock traded as low as $2.35 and last traded at $2.36, with a volume of 1692912 shares trading hands. The stock had previously closed at $2.40.

Wall Street Analysts Forecast Growth

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

Ambev Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.66. The firm has a 50-day simple moving average of $2.52 and a two-hundred day simple moving average of $2.64. The company has a market cap of $37.01 billion, a PE ratio of 13.06, a P/E/G ratio of 2.43 and a beta of 1.08.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.06 earnings per share for the quarter, topping 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%. Research analysts anticipate that Ambev S.A. will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambev

Several hedge funds have recently bought and sold shares of ABEV. Radnor Capital Management LLC acquired a new stake in shares of Ambev during the first quarter worth $25,000. Perennial Advisors LLC acquired a new stake in shares of Ambev during the third quarter worth $26,000. Coldstream Capital Management Inc. acquired a new stake in shares of Ambev during the third quarter worth $26,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Ambev during the third quarter worth $26,000. Finally, Ieq Capital LLC acquired a new stake in shares of Ambev during the third quarter worth $27,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

About Ambev

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.