Brokerages Anticipate New Age Beverages Corp (NASDAQ:NBEV) Will Post Quarterly Sales of $76.66 Million

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Wall Street analysts forecast that New Age Beverages Corp (NASDAQ:NBEV) will post sales of $76.66 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for New Age Beverages’ earnings. The highest sales estimate is $83.32 million and the lowest is $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 479%. The company is expected to announce its next quarterly earnings results on Wednesday, November 13th.

On average, analysts expect that New Age Beverages will report full-year sales of $281.80 million for the current year, with estimates ranging from $274.66 million to $288.94 million. For the next fiscal year, analysts anticipate that the firm will report sales of $304.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for New Age Beverages.

New Age Beverages (NASDAQ:NBEV) last released its earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). The company had revenue of $66.35 million during the quarter, compared to the consensus estimate of $64.43 million. New Age Beverages had a negative net margin of 12.78% and a negative return on equity of 17.70%. The firm’s quarterly revenue was up 396.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS.

A number of brokerages have weighed in on NBEV. TheStreet lowered shares of New Age Beverages from a “c-” rating to a “d+” rating in a research report on Thursday, August 22nd. Zacks Investment Research upgraded shares of New Age Beverages from a “sell” rating to a “hold” rating in a research note on Saturday. Maxim Group reiterated a “hold” rating on shares of New Age Beverages in a research note on Friday, May 10th. Compass Point began coverage on shares of New Age Beverages in a research note on Monday, June 10th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Northland Securities reiterated a “hold” rating and issued a $5.00 price target on shares of New Age Beverages in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. New Age Beverages has an average rating of “Hold” and a consensus price target of $7.55.

NASDAQ:NBEV traded down $0.26 on Tuesday, reaching $3.06. 108,332 shares of the company’s stock were exchanged, compared to its average volume of 2,129,051. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.65 and a quick ratio of 1.24. New Age Beverages has a 52 week low of $1.33 and a 52 week high of $9.99. The stock has a fifty day simple moving average of $3.72 and a 200-day simple moving average of $4.90.

In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $4.59, for a total value of $114,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 75,000 shares of company stock valued at $296,500. Insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBEV. BlackRock Inc. increased its position in shares of New Age Beverages by 54.1% during the fourth quarter. BlackRock Inc. now owns 1,146,398 shares of the company’s stock worth $5,962,000 after buying an additional 402,432 shares during the period. Bank of New York Mellon Corp increased its holdings in New Age Beverages by 127.2% during the fourth quarter. Bank of New York Mellon Corp now owns 59,094 shares of the company’s stock worth $307,000 after buying an additional 33,090 shares during the last quarter. Northern Trust Corp increased its stake in shares of New Age Beverages by 51.1% in the fourth quarter. Northern Trust Corp now owns 128,345 shares of the company’s stock worth $668,000 after purchasing an additional 43,381 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in New Age Beverages by 311.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 97,621 shares of the company’s stock valued at $508,000 after purchasing an additional 73,900 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of New Age Beverages by 77.5% in the 4th quarter. Geode Capital Management LLC now owns 444,631 shares of the company’s stock worth $2,312,000 after acquiring an additional 194,180 shares during the last quarter. Hedge funds and other institutional investors own 18.39% of the company’s stock.

About New Age Beverages

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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