Ambev S.A. (NYSE:ABEV) does about 36.91M shares in volume on a normal day but saw 33713923 shares change hands in Tuesday trading. The company now has a market cap of 38.23B USD and an enterprise value of about $38.47B. Its current market price is $2.48, marking an increase of 2.06% compared to the previous close of $2.43. The 52 week high reached by this stock is $4.82 whilst the lowest price level in 52 weeks is $1.90. The script in recent trading has seen the stock touch a high of $2.51 and a low of $2.41.
Ambev S.A. (ABEV) has a 20-day trading average at $2.69 and the current price is -48.51% off the 52-week high compared with 30.53% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.69 and its 200-day simple moving average is $3.26. If we look at the stock’s price movements over the week, volatility stands at 3.75%, which increases to 4.22% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 39.35 to suggest the stock is neutral.
The consensus objective for the share price is $3.33, suggesting that the stock has a potential upside of 25.53% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 31, 2020 when JP Morgan upgraded the stock to “Neutral” and issued a price target of. JP Morgan downgraded the stock to “Underweight” from Neutral on March 24, 2020 at a price target of.
The current price level is -8.10%, -7.77%, and -23.77% away from its SMA20, SMA50, and SMA200 respectively, with the ABEV price moving above the 50-day SMA on August 10. Ambev S.A. (ABEV) stock is down -5.81% over the week and -14.13% over the past month. Its price is -47.85% year-to-date and -50.65% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.02 above consensus estimates by $0.01. ABEV’s earnings per share are forecast to shrink by -47.40% this year and 30.00% over next year. Expected sales for next quarter are $3.21 billion, which analysts say will come at $10.18 billion for the current fiscal year and next year at $10.85 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.27 billion.
Its 12-month price target is $2.97. To reach the target analysts have set, the stock logically needs to grow 25.53 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $2.50, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $4.50.
Outstanding shares total 15.73B with insiders holding 0.00% of the shares and institutional holders owning 8.30% of the company’s common stock. The price to earnings ratio (P/E ratio) amounts to 13.81 while the forward price to earnings ratio is 18.69. Price to book ratio is 2.46.
First Eagle Global Fund isn’t the only investment manager who changed stakes and is followed by Harding Loevner International Equ, which sold off -4.7 million shares to end up with 73,577,761 shares worth $194.25 million. Virtus Vontobel Emerging Markets cut their holdings by -21.23% in the company over the course of the most recent quarter. It now holds a 0.30% position in Ambev S.A. thanks to 46.51 million shares amounting to $122.8 million.