Beam Price Target Increased to $83.50 by Analysts at Davidson (BEAM)
Investment analysts at Davidson upped their target price on shares of Beam (NASDAQ:BEAM) from $70.00 to $83.50 in a note issued to investors on Tuesday, American Banking News reports. Davidson’s price objective indicates a potential upside of 0.10% from the stock’s previous close.
Beam (NASDAQ:BEAM) traded down 0.29% during mid-day trading on Tuesday, hitting $83.18. 10,632,728 shares of the company’s stock traded hands. Beam has a one year low of $59.66 and a one year high of $83.61. The stock’s 50-day moving average is $67.84 and its 200-day moving average is $66.16. The company has a market cap of $13.564 billion and a P/E ratio of 35.63.
Beam (NASDAQ:BEAM) last released its earnings data on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.58 by $0.01. The company had revenue of $598.70 million for the quarter, compared to the consensus estimate of $623.11 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts expect that Beam will post $2.59 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BEAM. Analysts at DA Davidson raised their price target on shares of Beam from $70.00 to $83.50 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of Beam in a research note to investors on Monday, November 25th. They set a “sector perform” rating and a $70.00 price target on the stock. Finally, analysts at ISI Group initiated coverage on shares of Beam in a research note to investors on Friday, November 8th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.50.
Beam Inc (NASDAQ:BEAM) is a premium spirits company that makes and sells branded distilled spirits products in markets worldwide.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.