Compañía Cervecerías Unidas (NYSE:CCU) Posts Earnings Results, Hits Expectations

Compañía Cervecerías Unidas (NYSE:CCU) announced its quarterly earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17, reports. The company 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

Compañía Cervecerías Unidas stock opened at $11.13 on Friday. Compañía Cervecerías Unidas has a one year low of $10.00 and a one year high of $13.74. The stock has a fifty day moving average of $11.02 and a 200 day moving average of $11.60. The company has a current ratio of 2.29, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82.

Institutional Investors Weigh In On Compañía Cervecerías Unidas

A number of large investors have recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its holdings in shares of Compañía Cervecerías Unidas by 1.2% in the second quarter. First Eagle Investment Management LLC now owns 15,741,885 shares of the company’s stock worth $179,143,000 after buying an additional 184,970 shares during the last quarter. Genesis Investment Management LLP grew its position in shares of Compañía Cervecerías Unidas by 33.9% during the 3rd quarter. Genesis Investment Management LLP now owns 1,590,258 shares of the company’s stock valued at $18,495,000 after acquiring an additional 402,593 shares during the period. Ninety One UK Ltd purchased a new stake in shares of Compañía Cervecerías Unidas in the 2nd quarter worth $2,121,000. Dimensional Fund Advisors LP increased its stake in shares of Compañía Cervecerías Unidas by 82.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 166,734 shares of the company’s stock worth $1,897,000 after purchasing an additional 75,147 shares in the last quarter. Finally, Privium Fund Management UK Ltd raised its holdings in Compañía Cervecerías Unidas by 98.1% in the 2nd quarter. Privium Fund Management UK Ltd now owns 120,892 shares of the company’s stock worth $1,348,000 after purchasing an additional 59,863 shares during the period. 24.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. lowered Compañía Cervecerías Unidas from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $21.00 to $10.00 in a report on Thursday, August 8th. The Goldman Sachs Group lowered Compañía Cervecerías Unidas from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $12.90 to $10.50 in a research report on Monday, August 26th. Finally, StockNews.com raised shares of Compañía Cervecerías Unidas from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Compañía Cervecerías Unidas has an average rating of “Hold” and a consensus price target of $12.36.

About Compañía Cervecerías Unidas

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.