Credit Suisse Initiates Coverage on Constellation Brands (STZ)
Investment analysts at Credit Suisse initiated coverage on shares of Constellation Brands (NYSE:STZ) in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
In other Constellation Brands news, Director Barry A. Fromberg unloaded 2,243 shares of Constellation Brands stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $83.78, for a total value of $187,918.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on STZ. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Constellation Brands in a research note on Thursday, July 3rd. They now have a $95.00 price target on the stock, up previously from $82.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Constellation Brands in a research note on Thursday, July 3rd. They now have a $100.00 price target on the stock, up previously from $93.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Constellation Brands from $90.00 to $113.00 in a research note on Thursday, July 3rd. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $91.38.
Shares of Constellation Brands (NYSE:STZ) opened at 85.88 on Thursday. Constellation Brands has a 52 week low of $53.12 and a 52 week high of $94.77. The stock’s 50-day moving average is $87.07 and its 200-day moving average is $82.88. The company has a market cap of $16.541 billion and a P/E ratio of 7.87.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 126.7% on a year-over-year basis. On average, analysts predict that Constellation Brands will post $4.26 earnings per share for the current fiscal year.
Constellation Brands, Inc is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy.
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