Vintage Wine Estates (NASDAQ:VWE) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Vintage Wine Estates (NASDAQ:VWEGet Rating) announced its quarterly earnings results on Tuesday. The company reported 0.17 earnings per share for the quarter, beating analysts’ consensus estimates of 0.08 by 0.09, Yahoo Finance reports. Vintage Wine Estates had a net margin of 3.32% and a return on equity of 5.05%. Vintage Wine Estates updated its FY 2023 guidance to EPS.

Vintage Wine Estates Price Performance

NASDAQ VWE traded down 2.24 during trading on Wednesday, reaching 3.29. The company’s stock had a trading volume of 81,264 shares, compared to its average volume of 223,802. The firm has a fifty day moving average of 6.66 and a 200 day moving average of 8.19. The stock has a market capitalization of $200.51 million, a PE ratio of 60.51 and a beta of 0.84. Vintage Wine Estates has a one year low of 3.99 and a one year high of 12.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 0.66.

Hedge Funds Weigh In On Vintage Wine Estates

Several institutional investors have recently modified their holdings of VWE. Vanguard Group Inc. lifted its position in Vintage Wine Estates by 8.3% in the first quarter. Vanguard Group Inc. now owns 840,271 shares of the company’s stock valued at $8,294,000 after purchasing an additional 64,227 shares during the last quarter. State Street Corp boosted its stake in Vintage Wine Estates by 238.0% during the second quarter. State Street Corp now owns 363,333 shares of the company’s stock worth $2,856,000 after acquiring an additional 255,832 shares in the last quarter. Penn Capital Management Company LLC boosted its holdings in Vintage Wine Estates by 67.9% in the first quarter. Penn Capital Management Company LLC now owns 300,073 shares of the company’s stock worth $2,374,000 after acquiring an additional 121,365 shares in the last quarter. Northern Trust Corp raised its position in shares of Vintage Wine Estates by 413.5% in the 2nd quarter. Northern Trust Corp now owns 276,047 shares of the company’s stock worth $2,169,000 after purchasing an additional 222,293 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Vintage Wine Estates by 3.7% during the first quarter. BlackRock Inc. now owns 144,739 shares of the company’s stock valued at $1,428,000 after acquiring an additional 5,210 shares in the last quarter. 46.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VWE has been the topic of a number of research analyst reports. Telsey Advisory Group cut shares of Vintage Wine Estates from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $12.00 to $6.00 in a report on Wednesday. Canaccord Genuity Group lowered Vintage Wine Estates from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $5.50 in a research note on Wednesday. Citigroup decreased their target price on shares of Vintage Wine Estates from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Canaccord Genuity Group cut Vintage Wine Estates from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $5.50 in a research note on Wednesday. Finally, DA Davidson lowered their price objective on shares of Vintage Wine Estates to $14.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Vintage Wine Estates presently has an average rating of “Hold” and an average price target of 9.42.

Vintage Wine Estates Company Profile

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Vintage Wine Estates, Inc produces and sells wines and craft spirits in the United States, Canada, and internationally. The company offers its products under the Layer Cake, Firesteed, Bar Dog, Middle Sister, Cherry Pie, Cartlidge & Browne, GAZE Wine Cocktails, Girard, Clos Pegase, Laetitia Vineyard and Winery, Swanson Vineyards, Kunde Family Winery, Viansa, and B.R.

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