Beam Now Covered by Analysts at Stifel Nicolaus (BEAM)
Stifel Nicolaus initiated coverage on shares of Beam (NASDAQ: BEAM) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
The analysts wrote, “We are initiating coverage of Beam Inc. with a Hold rating, and view the company’s premium-to-spirits valuation as a sign outperformance will be difficult in the absence of improving growth or a takeout. (We have no knowledge of M&A discussions and believe consensus revenue estimates for 2013 are more likely 2%-3% too high than too low). Created as a pure-play spirits company in late 2011, Beam Inc., the maker and marketer of Jim Beam, Pinnacle vodka, Skinnygirl ready-to-drink cocktails, and other premium spirits, is growing revenues by mid-single digits and aiming to outperform its sectors by growing internationally, building and acquiring high-growth brands (e.g., Maker’s Mark), and strengthening Jim Beam and other large brands in the U.S.”
Shares of Beam (NASDAQ: BEAM) traded down 0.06% during mid-day trading on Friday, hitting $62.90. Beam has a one year low of $62.12 and a one year high of $63.77. The stock’s 50-day moving average is currently $63.0. The company has a market cap of $10.085 billion and a P/E ratio of 26.47.
Beam (NASDAQ: BEAM) last issued its quarterly earnings data on Friday, February 1st. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.01. The company had revenue of $709.10 million for the quarter, compared to the consensus estimate of $704.12 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts predict that Beam will post $2.64 earnings per share for the current fiscal year.
Beam Inc. (NASDAQ: BEAM) is a premium spirits company that makes and sells branded distilled spirits products in major markets worldwide.
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