Wall Street brokerages forecast that New Age Beverages Corp (NASDAQ:NBEV) will post sales of $65.87 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for New Age Beverages’ earnings, with the lowest sales estimate coming in at $61.30 million and the highest estimate coming in at $69.02 million. New Age Beverages posted sales of $66.35 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.7%. The business is expected to announce its next earnings report on Thursday, August 13th.

On average, analysts expect that New Age Beverages will report full-year sales of $271.52 million for the current financial year, with estimates ranging from $267.18 million to $275.86 million. For the next year, analysts anticipate that the company will report sales of $312.09 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow New Age Beverages.

New Age Beverages (NASDAQ:NBEV) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). New Age Beverages had a negative net margin of 38.53% and a negative return on equity of 44.30%. The company had revenue of $63.69 million for the quarter, compared to analyst estimates of $62.86 million.

NBEV has been the topic of a number of research reports. Alliance Global Partners increased their price objective on shares of New Age Beverages from $3.50 to $5.00 in a research note on Tuesday, July 21st. Zacks Investment Research upgraded shares of New Age Beverages from a “hold” rating to a “buy” rating and set a $1.75 price objective on the stock in a research note on Friday, May 29th. Finally, Northland Securities initiated coverage on shares of New Age Beverages in a research note on Wednesday, July 22nd. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. New Age Beverages has an average rating of “Buy” and an average price target of $3.56.

New Age Beverages stock traded down $0.10 during mid-day trading on Monday, reaching $2.27. 3,108,773 shares of the company traded hands, compared to its average volume of 5,235,983. The company has a market capitalization of $210.18 million, a price-to-earnings ratio of -1.80 and a beta of 1.75. New Age Beverages has a fifty-two week low of $0.98 and a fifty-two week high of $3.98. The firm’s fifty day moving average is $1.72 and its two-hundred day moving average is $1.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.28 and a quick ratio of 0.73.

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG grew its position in New Age Beverages by 885.3% during the second quarter. UBS Group AG now owns 16,573 shares of the company’s stock valued at $26,000 after buying an additional 14,891 shares during the period. BNP Paribas Arbitrage SA grew its position in New Age Beverages by 123.4% during the first quarter. BNP Paribas Arbitrage SA now owns 22,974 shares of the company’s stock valued at $32,000 after buying an additional 12,689 shares during the period. JPMorgan Chase & Co. lifted its holdings in New Age Beverages by 117.0% during the first quarter. JPMorgan Chase & Co. now owns 24,120 shares of the company’s stock valued at $33,000 after purchasing an additional 166,131 shares in the last quarter. Davy Global Fund Management Ltd purchased a new position in New Age Beverages during the first quarter valued at $35,000. Finally, Hilton Capital Management LLC purchased a new position in New Age Beverages during the second quarter valued at $38,000. Institutional investors own 21.00% of the company’s stock.

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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