Analysts Anticipate Constellation Brands Inc (STZ) to Post $2.16 Earnings Per Share
Brokerages forecast that Constellation Brands Inc (NYSE:STZ) will report $2.16 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Constellation Brands’ earnings, with the lowest EPS estimate coming in at $2.09 and the highest estimate coming in at $2.24. Constellation Brands reported earnings of $1.77 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 22%. The business is expected to issue its next earnings report on Wednesday, October 4th.
On average, analysts expect that Constellation Brands will report full year earnings of $8.15 per share for the current fiscal year, with EPS estimates ranging from $8.07 to $8.30. For the next year, analysts expect that the company will post earnings of $9.14 per share, with EPS estimates ranging from $9.00 to $9.29. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Constellation Brands.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. Constellation Brands’s revenue for the quarter was up 3.4% on a year-over-year basis.
A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price objective (up from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $220.00 price objective (up from $188.00) on shares of Constellation Brands in a report on Friday, June 30th. Vetr lowered shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective for the company. in a report on Monday, May 22nd. UBS AG increased their price objective on shares of Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a report on Friday, June 30th. Finally, Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $200.53.
Shares of Constellation Brands (STZ) opened at 196.74 on Wednesday. The firm’s 50-day moving average is $195.56 and its 200 day moving average is $176.88. The company has a market capitalization of $38.42 billion, a price-to-earnings ratio of 24.68 and a beta of 0.06. Constellation Brands has a 12 month low of $144.00 and a 12 month high of $199.89.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.06%. Constellation Brands’s dividend payout ratio is presently 26.03%.
In related news, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the sale, the vice president now directly owns 86,005 shares in the company, valued at $16,727,972.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Barry A. Fromberg sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the completion of the sale, the director now owns 22,820 shares of the company’s stock, valued at $4,471,122.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,601 shares of company stock valued at $18,586,986. 15.59% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Wetherby Asset Management Inc. increased its stake in shares of Constellation Brands by 15.2% in the first quarter. Wetherby Asset Management Inc. now owns 1,989 shares of the company’s stock worth $322,000 after buying an additional 263 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Constellation Brands during the first quarter worth about $2,536,000. DUPONT CAPITAL MANAGEMENT Corp increased its stake in shares of Constellation Brands by 922.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 75,984 shares of the company’s stock worth $12,315,000 after buying an additional 68,552 shares in the last quarter. Welch & Forbes LLC bought a new stake in shares of Constellation Brands during the first quarter worth about $211,000. Finally, Wesbanco Bank Inc. increased its stake in shares of Constellation Brands by 15.9% in the first quarter. Wesbanco Bank Inc. now owns 74,977 shares of the company’s stock worth $12,152,000 after buying an additional 10,298 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.
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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