Equities analysts predict that NewAge, Inc. (NASDAQ:NBEV) will announce earnings per share (EPS) of ($0.02) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for NewAge’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.00. NewAge reported earnings per share of ($0.14) in the same quarter last year, which would indicate a positive year over year growth rate of 85.7%. The business is expected to report its next earnings report on Monday, May 10th.
According to Zacks, analysts expect that NewAge will report full-year earnings of $0.02 per share for the current year, with EPS estimates ranging from $0.01 to $0.02. For the next fiscal year, analysts anticipate that the company will report earnings of $0.15 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for NewAge.
Separately, Zacks Investment Research cut shares of NewAge from a “hold” rating to a “sell” rating in a report on Tuesday, March 9th.
A number of hedge funds have recently added to or reduced their stakes in the stock. Rikoon Group LLC grew its position in NewAge by 15.5% during the fourth quarter. Rikoon Group LLC now owns 18,645 shares of the company’s stock valued at $34,000 after buying an additional 2,500 shares during the period. The Manufacturers Life Insurance Company grew its position in NewAge by 5.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 59,352 shares of the company’s stock valued at $156,000 after buying an additional 3,190 shares during the period. ProShare Advisors LLC grew its position in NewAge by 80.7% during the fourth quarter. ProShare Advisors LLC now owns 20,976 shares of the company’s stock valued at $55,000 after buying an additional 9,368 shares during the period. SG Americas Securities LLC acquired a new stake in NewAge during the fourth quarter valued at $33,000. Finally, Panagora Asset Management Inc. grew its position in NewAge by 448.0% during the fourth quarter. Panagora Asset Management Inc. now owns 17,888 shares of the company’s stock valued at $47,000 after buying an additional 14,624 shares during the period. Institutional investors own 21.35% of the company’s stock.
NewAge Company Profile
New Age Beverages Corporation develops, markets, sells, and distributes healthy liquid dietary supplements and ready-to-drink (RTD) beverages. The company offers RTD tea, coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.
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