$1.95 Billion in Sales Expected for Constellation Brands, Inc. (STZ) This Quarter
Wall Street brokerages forecast that Constellation Brands, Inc. (NYSE:STZ) will post $1.95 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Constellation Brands’ earnings. The lowest sales estimate is $1.93 billion and the highest is $1.97 billion. Constellation Brands posted sales of $1.87 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, June 29th.
According to Zacks, analysts expect that Constellation Brands will report full-year sales of $1.95 billion for the current year, with estimates ranging from $7.58 billion to $7.69 billion. For the next financial year, analysts forecast that the firm will post sales of $8.21 billion per share, with estimates ranging from $8.05 billion to $8.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.12. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Constellation Brands had a return on equity of 19.07% and a net margin of 16.65%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS.
STZ has been the subject of several research reports. HSBC Holdings plc upgraded Constellation Brands from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $132.00 to $153.00 in a research note on Wednesday, February 1st. OTR Global lowered Constellation Brands to a “positive” rating in a research note on Tuesday, March 28th. Royal Bank of Canada reiterated a “buy” rating and set a $183.00 price objective on shares of Constellation Brands in a research note on Friday, March 31st. JPMorgan Chase & Co. initiated coverage on Constellation Brands in a research note on Tuesday, March 21st. They set an “overweight” rating and a $183.00 price objective for the company. Finally, Vetr upgraded 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $183.62.
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In other news, Director James A. Locke III sold 6,340 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $173.05, for a total value of $1,097,137.00. Following the sale, the director now directly owns 44,415 shares in the company, valued at $7,686,015.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Eric Klein sold 14,350 shares of the stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $172.24, for a total value of $2,471,644.00. Following the completion of the sale, the executive vice president now owns 50,572 shares in the company, valued at $8,710,521.28. The disclosure for this sale can be found here. Insiders have sold 61,244 shares of company stock worth $10,445,048 over the last 90 days. 10.63% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Hillman Co. boosted its stake in shares of Constellation Brands by 27.1% in the first quarter. Hillman Co. now owns 183,470 shares of the company’s stock valued at $29,735,000 after buying an additional 39,122 shares during the last quarter. Marietta Investment Partners LLC boosted its stake in shares of Constellation Brands by 13.6% in the third quarter. Marietta Investment Partners LLC now owns 62,511 shares of the company’s stock valued at $10,407,000 after buying an additional 7,496 shares during the last quarter. Rathbone Brothers plc boosted its stake in shares of Constellation Brands by 1.4% in the first quarter. Rathbone Brothers plc now owns 12,800 shares of the company’s stock valued at $2,074,000 after buying an additional 180 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Constellation Brands by 13.8% in the third quarter. Traynor Capital Management Inc. now owns 8,414 shares of the company’s stock valued at $1,408,000 after buying an additional 1,023 shares during the last quarter. Finally, Coconut Grove Bank boosted its stake in shares of Constellation Brands by 106.8% in the first quarter. Coconut Grove Bank now owns 887 shares of the company’s stock valued at $144,000 after buying an additional 458 shares during the last quarter. Institutional investors and hedge funds own 75.54% of the company’s stock.
Constellation Brands (NYSE:STZ) traded up 0.49% during trading on Friday, reaching $181.03. The company’s stock had a trading volume of 431,066 shares. The firm has a market capitalization of $35.26 billion, a P/E ratio of 24.07 and a beta of 0.52. Constellation Brands has a one year low of $144.00 and a one year high of $186.06. The stock has a 50-day moving average of $175.44 and a 200 day moving average of $160.30.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.15%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, May 8th. Constellation Brands’s dividend payout ratio is 24.73%.
About Constellation Brands
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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