Beam Price Target Raised to $83.50 at JPMorgan Chase & Co. (BEAM)
Analysts at JPMorgan Chase & Co. hoisted their price target on shares of Beam (NASDAQ:BEAM) to $83.50 in a research report issued to clients and investors on Friday, American Banking and Market News reports. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 0.12% from the stock’s previous close.
Beam (NASDAQ:BEAM) traded up 0.20% on Friday, hitting $83.40. 1,558,872 shares of the company’s stock traded hands. Beam has a 52-week low of $59.66 and a 52-week high of $84.00. The stock’s 50-day moving average is $76.40 and its 200-day moving average is $68.46. The company has a market cap of $13.600 billion and a price-to-earnings ratio of 35.55. Beam also was the recipient of some unusual options trading activity on Wednesday. Investors purchased 19,448 call options on the stock. This is an increase of 267% compared to the average daily volume of 5,298 call options.
Beam (NASDAQ:BEAM) last announced its earnings results on Wednesday, February 5th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.72 by $0.05. The company had revenue of $739.50 million for the quarter, compared to the consensus estimate of $735.47 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts expect that Beam will post $2.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Investors of record on Thursday, February 6th will be given a dividend of 0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, February 4th.
In other Beam news, major shareholder Pershing Square Capital Manage sold 7,300,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $83.29, for a total transaction of $608,017,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
BEAM has been the subject of a number of other recent research reports. Analysts at Argus downgraded shares of Beam from a “hold” rating to a “sell” rating in a research note to investors on Thursday, January 16th. Separately, analysts at Nomura upgraded shares of Beam to a “neutral” rating in a research note to investors on Wednesday, January 15th. Finally, analysts at SunTrust downgraded shares of Beam from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, January 15th. They now have a $83.50 price target on the stock, up previously from $73.00. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Beam has an average rating of “Hold” and a consensus target price of $79.38.
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.