Ambev S.A. (ABEV) Rating Reiterated by Evercore ISI
Ambev S.A. (NYSE:ABEV)‘s stock had its “outperform” rating restated by investment analysts at Evercore ISI in a research note issued on Friday, The Fly reports. They currently have a $8.50 price target on the stock, up from their previous price target of $7.00. Evercore ISI’s price objective suggests a potential upside of 25.18% from the company’s previous close.
Several other equities analysts also recently weighed in on ABEV. Zacks Investment Research raised Ambev from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Monday, July 10th. Barclays PLC reaffirmed a “hold” rating on shares of Ambev in a research note on Sunday, July 30th. Credit Suisse Group raised Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. Finally, BidaskClub downgraded Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $6.90.
Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Ambev had a return on equity of 23.24% and a net margin of 27.14%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.33 billion.
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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