[The Street] Ambev SA (ADR) (NYSE:ABEV)(TREND ANALYSIS) stock closed lower by 6.47% to $4.77 on Tuesday, after Brazil’s real weakened on disappointing economic data from China and political turmoil at home.
Ambev is a brewing company based in Sao Paulo, Brazil.
The Brazilian real led losses among the world’s 16 biggest currencies, down 2.4% to 3.8658 per dollar this afternoon and 31% this year, Bloomberg reports.
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Ambev SA (ADR) (NYSE:ABEV) stock is currently trading 30.17% below its 52-week-high, 8.62% above its 52-week-low. The 1-year stock price history is in the range of $4.41 – $6.86. Ambev SA (ADR) (ABEV) has a price to earnings ratio of 22.59. ABEV stock price has underperformed the S&P 500 by 21.7%. The Beverages company is currently valued at $75.19 billion and its share price closed the last trading session at $4.79. The stock has a 50-day moving average of $5.01 and a 200-day moving average of $5.75.
Ambev SA (ADR) (ABEV) current short interest stands at 15.52 million shares. It has decreased by 4% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 26.07 million shares, the number of days required to cover the short positions stand at 0.6 day.
The company is expected to announce next quarter earnings on October 30, at consensus estimate of $0.06. Ambev SA (ADR) (ABEV) reported last quarter earnings on July 30. The Beverages company announced earnings per share of $0.06 against a consensus Street estimate of $0.05, beating the average estimate by $0.01. This corresponds to a decrease of $0.01 compared to the same quarter of the previous fiscal year.
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There are currently fifteen analysts that cover Ambev SA (ADR) stock. Of those fifteen, seven have a Buy rating, seven have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $21.59.
A recent analyst activity consisted of JP Morgan upgrading their Neutral rating to Overweight on June 1. On the date of report, the stock closed at $5.75.
Ambev SA primary business is the production and distribution of beer. The Company also operates in the soft drinks and non-alcoholic and non-carbonated businesses with proprietary brands. Ambev has exclusive bottler and distributor rights for Pepsi CSD products in Brazil.