Beam Downgraded to “Sell” at Argus (BEAM)
Beam (NASDAQ:BEAM) was downgraded by stock analysts at Argus from a “hold” rating to a “sell” rating in a report issued on Thursday, Stock Ratings Network.com reports.
A number of other analysts have also recently weighed in on BEAM. Analysts at Nomura upgraded shares of Beam to a “neutral” rating in a research note to investors on Wednesday. Separately, analysts at SunTrust downgraded shares of Beam from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $83.50 price target on the stock, up previously from $73.00. Finally, analysts at Davidson raised their price target on shares of Beam from $70.00 to $83.50 in a research note to investors on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $77.44.
Beam (NASDAQ:BEAM) opened at 83.40 on Thursday. Beam has a 52-week low of $59.66 and a 52-week high of $83.61. The stock has a 50-day moving average of $68.34 and a 200-day moving average of $66.28. The company has a market cap of $13.600 billion and a P/E ratio of 35.63.
Beam (NASDAQ:BEAM) last posted its quarterly earnings results 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 last year, the company posted $0.62 earnings per share. Beam’s revenue was down 4.5% compared to the same quarter last year. Analysts expect that Beam will post $2.59 EPS for the current fiscal year.
Beam Inc (NASDAQ:BEAM) is a premium spirits company that makes and sells branded distilled spirits products in markets worldwide.
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