Q3 2017 EPS Estimates for Constellation Brands Inc. Cut by Analyst (STZ)
Constellation Brands Inc. (NYSE:STZ) – Investment analysts at SunTrust Banks cut their Q3 2017 earnings estimates for shares of Constellation Brands in a research report issued on Wednesday. SunTrust Banks analyst W. Chappell now forecasts that the brokerage will post earnings per share of $1.69 for the quarter, down from their previous forecast of $1.73. SunTrust Banks also issued estimates for Constellation Brands’ Q4 2017 earnings at $1.43 EPS, FY2017 earnings at $6.41 EPS, Q2 2018 earnings at $2.09 EPS, Q3 2018 earnings at $1.81 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $7.29 EPS and FY2019 earnings at $8.35 EPS.
Several other equities research analysts have also recently commented on the company. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Constellation Brands in a research report on Friday, July 15th. Zacks Investment Research cut Constellation Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Susquehanna reaffirmed a “hold” rating on shares of Constellation Brands in a research report on Monday, August 8th. Bank of America Corp. reaffirmed a “buy” rating and set a $195.00 price objective on shares of Constellation Brands in a research report on Thursday. Finally, Pivotal Research reaffirmed a “buy” rating and set a $200.00 price objective on shares of Constellation Brands in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $175.75.
Shares of Constellation Brands (NYSE:STZ) traded down 1.15% on Friday, hitting $169.07. The stock had a trading volume of 1,067,213 shares. Constellation Brands has a 52 week low of $130.23 and a 52 week high of $173.55. The stock has a market capitalization of $33.90 billion, a P/E ratio of 30.46 and a beta of 0.63. The firm has a 50-day moving average price of $165.52 and a 200-day moving average price of $160.29.
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Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The firm had revenue of $2.02 billion for the quarter. During the same quarter in the prior year, the company earned $1.56 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 4th. Constellation Brands’s dividend payout ratio (DPR) is 27.49%.
In other news, EVP William F. Hackett sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the sale, the executive vice president now owns 54,934 shares of the company’s stock, valued at approximately $9,045,981.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP F Paul Hetterich sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $164.60, for a total value of $1,646,000.00. Following the sale, the vice president now directly owns 61,404 shares in the company, valued at approximately $10,107,098.40. The disclosure for this sale can be found here. Insiders own 10.63% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Bremer Trust National Association raised its stake in shares of Constellation Brands by 3.5% in the third quarter. Bremer Trust National Association now owns 2,512 shares of the company’s stock valued at $418,000 after buying an additional 85 shares during the period. Liberty Capital Management Inc. increased its position in shares of Constellation Brands by 1.8% in the third quarter. Liberty Capital Management Inc. now owns 28,215 shares of the company’s stock valued at $4,680,000 after buying an additional 501 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of Constellation Brands by 6.5% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,489 shares of the company’s stock valued at $1,080,000 after buying an additional 395 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Constellation Brands by 2.2% in the third quarter. Fulton Bank N.A. now owns 1,547 shares of the company’s stock valued at $258,000 after buying an additional 34 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Constellation Brands during the second quarter valued at about $1,178,000. 75.05% of the stock is currently owned by institutional investors and hedge funds.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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