Analysts predict that New Age Beverages Corp (NASDAQ:NBEV) will announce sales of $70.20 million for the current quarter, according to Zacks. Two analysts have made estimates for New Age Beverages’ earnings, with the highest sales estimate coming in at $70.40 million and the lowest estimate coming in at $70.00 million. New Age Beverages reported sales of $13.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 430.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 13th.
According to Zacks, analysts expect that New Age Beverages will report full year sales of $270.48 million for the current year, with estimates ranging from $266.29 million to $274.66 million. For the next year, analysts forecast that the business will report sales of $300.17 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for New Age Beverages.
New Age Beverages (NASDAQ:NBEV) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). New Age Beverages had a negative net margin of 12.78% and a negative return on equity of 17.70%. The company had revenue of $66.35 million for the quarter, compared to the consensus estimate of $64.43 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. New Age Beverages’s revenue was up 396.6% compared to the same quarter last year.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded New Age Beverages from a “sell” rating to a “hold” rating in a report on Thursday. Northland Securities reaffirmed a “hold” rating and set a $5.00 price objective on shares of New Age Beverages in a research report on Thursday, August 8th. BidaskClub cut New Age Beverages from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. TheStreet cut New Age Beverages from a “c-” rating to a “d+” rating in a research report on Thursday, August 22nd. Finally, ValuEngine cut New Age Beverages from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $7.55.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.27, for a total value of $81,750.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.90% of the company’s stock.
Large investors have recently made changes to their positions in the business. Advisory Services Network LLC boosted its position in New Age Beverages by 5,012.7% in the first quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock worth $53,000 after purchasing an additional 9,875 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in New Age Beverages in the first quarter worth about $56,000. Cetera Advisor Networks LLC purchased a new position in New Age Beverages in the second quarter worth about $61,000. South Texas Money Management Ltd. purchased a new position in New Age Beverages in the second quarter worth about $67,000. Finally, United Asset Strategies Inc. purchased a new position in New Age Beverages in the second quarter worth about $78,000. 22.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:NBEV opened at $3.25 on Wednesday. New Age Beverages has a 1-year low of $1.53 and a 1-year high of $9.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.65. The business has a fifty day moving average price of $3.41 and a 200-day moving average price of $4.62.
New Age Beverages Company Profile
New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. The company offers ready to drink (RTD) tea, RTD coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.
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