Analysts Anticipate Constellation Brands, Inc. (STZ) to Post $1.98 Earnings Per Share
Brokerages expect Constellation Brands, Inc. (NYSE:STZ) to announce earnings per share (EPS) of $1.98 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Constellation Brands’ earnings. The lowest EPS estimate is $1.90 and the highest is $2.06. Constellation Brands posted earnings of $1.54 per share in the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The business is expected to issue its next quarterly earnings report on Thursday, June 29th.
According to Zacks, analysts expect that Constellation Brands will report full-year earnings of $7.99 per share for the current year, with EPS estimates ranging from $7.88 to $8.14. For the next fiscal year, analysts forecast that the firm will post earnings of $8.95 per share, with EPS estimates ranging from $8.72 to $9.13. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. Constellation Brands had a return on equity of 19.07% and a net margin of 16.65%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned $1.19 EPS. Constellation Brands’s revenue was up 5.5% compared to the same quarter last year.
STZ has been the subject of several analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $183.00 price objective on shares of Constellation Brands in a research note on Friday, March 31st. Pivotal Research raised their price objective on shares of Constellation Brands from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Vetr raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $163.75 price objective for the company in a research note on Thursday, February 23rd. Stifel Nicolaus raised their price objective on shares of Constellation Brands from $189.00 to $201.00 and gave the stock a “buy” rating in a research note on Monday, April 10th. Finally, Goldman Sachs Group Inc raised shares of Constellation Brands from a “buy” rating to a “conviction-buy” rating and decreased their price objective for the stock from $200.00 to $168.95 in a research note on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $183.62.
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In related news, Director Barry A. Fromberg sold 700 shares of Constellation Brands stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $170.03, for a total transaction of $119,021.00. Following the transaction, the director now directly owns 21,520 shares of the company’s stock, valued at $3,659,045.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas J. Mullin sold 39,854 shares of Constellation Brands stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $169.55, for a total transaction of $6,757,245.70. Following the transaction, the vice president now directly owns 48,900 shares in the company, valued at $8,290,995. The disclosure for this sale can be found here. Insiders have sold 61,244 shares of company stock valued at $10,445,048 in the last ninety days. Insiders own 10.63% of the company’s stock.
A number of institutional investors have recently modified their holdings of STZ. Harbour Capital Advisors LLC acquired a new position in shares of Constellation Brands during the first quarter valued at about $117,000. Quadrant Capital Group LLC raised its position in shares of Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares during the last quarter. Hanson McClain Inc. raised its position in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock valued at $116,000 after buying an additional 175 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in shares of Constellation Brands during the first quarter valued at about $130,000. 75.54% of the stock is currently owned by institutional investors.
Shares of Constellation Brands (NYSE:STZ) traded down 1.55% on Wednesday, reaching $178.05. The company had a trading volume of 1,254,635 shares. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $186.06. The stock’s 50 day moving average is $174.41 and its 200 day moving average is $160.02. The firm has a market capitalization of $34.68 billion, a price-to-earnings ratio of 23.68 and a beta of 0.52.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, May 8th. This is an increase from Constellation Brands’s previous quarterly dividend of $0.40. Constellation Brands’s payout ratio is currently 24.73%.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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