New Age Beverages (NASDAQ:NBEV) Posts Earnings Results, Misses Expectations By $0.14 EPS

New Age Beverages (NASDAQ:NBEV) posted its quarterly earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.14), Briefing.com reports. The firm had revenue of $66.35 million for the quarter, compared to analysts’ expectations of $64.43 million. New Age Beverages had a negative return on equity of 18.51% and a negative net margin of 12.79%. The firm’s revenue for the quarter was up 396.6% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share.

Shares of NASDAQ NBEV traded up $0.19 during mid-day trading on Friday, reaching $3.60. 2,766,024 shares of the company traded hands, compared to its average volume of 2,612,091. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.63. The company’s fifty day moving average is $4.08. New Age Beverages has a fifty-two week low of $1.30 and a fifty-two week high of $9.99.

In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $4.00, for a total value of $100,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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. grew its holdings in New Age Beverages by 54.1% in the 4th quarter. BlackRock Inc. now owns 1,146,398 shares of the company’s stock valued at $5,962,000 after buying an additional 402,432 shares during the last quarter. Crosspoint Capital Strategies LLC acquired a new stake in New Age Beverages in the 1st quarter valued at approximately $1,173,000. Geode Capital Management LLC grew its holdings in New Age Beverages by 77.5% in the 4th quarter. Geode Capital Management LLC now owns 444,631 shares of the company’s stock valued at $2,312,000 after buying an additional 194,180 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in New Age Beverages by 602.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 175,649 shares of the company’s stock valued at $819,000 after buying an additional 150,639 shares during the last quarter. Finally, Laurion Capital Management LP grew its holdings in New Age Beverages by 19.8% in the 1st quarter. Laurion Capital Management LP now owns 626,632 shares of the company’s stock valued at $3,296,000 after buying an additional 103,755 shares during the last quarter. 13.87% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on NBEV shares. Maxim Group reissued a “hold” rating on shares of New Age Beverages in a report on Friday, May 10th. Zacks Investment Research raised New Age Beverages from a “sell” rating to a “hold” rating in a report on Friday. Compass Point started coverage on New Age Beverages in a report on Monday, June 10th. They set a “buy” rating and a $9.00 price objective on the stock. Northland Securities reissued a “hold” rating and set a $5.00 price objective on shares of New Age Beverages in a report on Thursday. Finally, BidaskClub lowered New Age Beverages from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $6.79.

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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Earnings History for New Age Beverages (NASDAQ:NBEV)

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