Compañía Cervecerías Unidas (NYSE:CCU) Issues Earnings Results

Compañía Cervecerías Unidas (NYSE:CCU) released its earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17, reports. The firm had revenue of $715.32 million during the quarter, compared to the consensus estimate of $858.58 million. Compañía Cervecerías Unidas had a net margin of 4.22% and a return on equity of 5.75%.

Compañía Cervecerías Unidas Stock Performance

CCU stock traded down $0.22 during midday trading on Friday, reaching $11.13. 71,952 shares of the company’s stock traded hands, compared to its average volume of 154,032. The company has a 50-day moving average price of $11.02 and a two-hundred day moving average price of $11.61. Compañía Cervecerías Unidas has a 52 week low of $10.00 and a 52 week high of $13.74. The company has a current ratio of 2.29, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On Compañía Cervecerías Unidas

Several hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC lifted its holdings in Compañía Cervecerías Unidas by 1.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 15,741,885 shares of the company’s stock worth $179,143,000 after purchasing an additional 184,970 shares in the last quarter. Ninety One UK Ltd purchased a new stake in shares of Compañía Cervecerías Unidas in the second quarter worth about $2,121,000. Privium Fund Management UK Ltd boosted its position in shares of Compañía Cervecerías Unidas by 98.1% in the second quarter. Privium Fund Management UK Ltd now owns 120,892 shares of the company’s stock valued at $1,348,000 after acquiring an additional 59,863 shares during the period. American Century Companies Inc. grew its stake in Compañía Cervecerías Unidas by 37.5% during the second quarter. American Century Companies Inc. now owns 79,367 shares of the company’s stock valued at $903,000 after acquiring an additional 21,630 shares in the last quarter. Finally, Naples Global Advisors LLC grew its stake in Compañía Cervecerías Unidas by 12.6% during the second quarter. Naples Global Advisors LLC now owns 33,595 shares of the company’s stock valued at $382,000 after acquiring an additional 3,750 shares in the last quarter. 24.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCU has been the topic of several research analyst reports. The Goldman Sachs Group downgraded Compañía Cervecerías Unidas from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $12.90 to $10.50 in a research note on Monday, August 26th. StockNews.com raised Compañía Cervecerías Unidas from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lowered Compañía Cervecerías Unidas from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $21.00 to $10.00 in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Compañía Cervecerías Unidas currently has an average rating of “Hold” and an average target price of $12.36.

Compañía Cervecerías Unidas Company Profile

Compañía Cervecerías Unidas SA operates as a beverage company in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. The company operates through three segments: Chile, International Business, and Wine. It produces and sells alcoholic and non-alcoholic beer under proprietary and licensed brands, as well as distributes Pernod Ricard products in non-supermarket retail stores.