Brown-Forman Co. (BF.B) Expected to Announce Earnings of $0.53 Per Share
Equities analysts expect Brown-Forman Co. (NYSE:BF.B) to post earnings of $0.53 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Brown-Forman’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.52. Brown-Forman posted earnings per share of $0.50 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, December 6th.
On average, analysts expect that Brown-Forman will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.88 to $1.93. For the next year, analysts expect that the company will post earnings of $2.05 per share, with EPS estimates ranging from $2.01 to $2.10. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Brown-Forman.
Brown-Forman (NYSE:BF.B) last posted its earnings results on Wednesday, August 30th. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Brown-Forman had a net margin of 24.62% and a return on equity of 51.18%. The firm had revenue of $723 million during the quarter, compared to the consensus estimate of $690.38 million. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis.
A number of research firms have weighed in on BF.B. Citigroup Inc. downgraded shares of Brown-Forman from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 24th. Zacks Investment Research downgraded shares of Brown-Forman from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Societe Generale downgraded shares of Brown-Forman from a “hold” rating to a “sell” rating in a research note on Thursday, June 8th. Cowen and Company reaffirmed a “hold” rating and set a $52.00 price target on shares of Brown-Forman in a research note on Thursday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Brown-Forman in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $51.88.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, September 7th will be paid a $0.183 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date is Wednesday, September 6th. This is an increase from Brown-Forman’s previous quarterly dividend of $0.17. Brown-Forman’s dividend payout ratio (DPR) is currently 40.56%.
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Brown-Forman Corporation is a spirit and wine company. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages. The Company has a portfolio of approximately 40 spirit, wine and ready-to-drink cocktail (RTD) brands. Its principal brands include Jack Daniel’s Tennessee Whiskey, Jack Daniel’s RTDs, Jack Daniel’s Tennessee Honey, Gentleman Jack Rare Tennessee Whiskey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Single Barrel Collection, Jack Daniel’s Sinatra Select, Jack Daniel’s Winter Jack, Jack Daniel’s No.
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