$2.16 EPS Expected for Constellation Brands Inc (STZ) This Quarter
Analysts expect that Constellation Brands Inc (NYSE:STZ) will announce earnings per share of $2.16 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Constellation Brands’ earnings, with the highest EPS estimate coming in at $2.24 and the lowest estimate coming in at $2.09. Constellation Brands posted earnings per share of $1.77 during the same quarter last year, which would suggest a positive year over year growth rate of 22%. The firm is scheduled to report its next quarterly 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 financial year, with EPS estimates ranging from $8.07 to $8.30. For the next fiscal year, analysts expect that the company will report earnings of $9.14 per share, with EPS estimates ranging from $9.00 to $9.29. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Constellation Brands.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.36. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 EPS.
A number of equities research analysts have issued reports on STZ shares. Morgan Stanley increased their target price on shares of Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, July 3rd. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 target price on shares of Constellation Brands in a research report on Wednesday, August 2nd. UBS AG increased their target price on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a research report on Friday, June 30th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $216.00 target price (up previously from $215.00) on shares of Constellation Brands in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $200.53.
Constellation Brands (STZ) traded up 0.09% during mid-day trading on Friday, hitting $202.39. The stock had a trading volume of 846,480 shares. Constellation Brands has a one year low of $144.00 and a one year high of $203.75. The firm’s 50-day moving average is $197.00 and its 200 day moving average is $180.70. The stock has a market cap of $34.80 billion, a PE ratio of 25.39 and a beta of 0.03.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.52 dividend. The ex-dividend date was Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.03%. Constellation Brands’s payout ratio is presently 26.03%.
In related news, EVP William F. Hackett sold 12,517 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the completion of the transaction, the vice president now owns 86,005 shares in the company, valued at $16,727,972.50. The disclosure for this sale can be found here. Insiders sold a total of 108,118 shares of company stock worth $21,052,835 over the last quarter. 15.59% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Constellation Brands by 0.9% in the 2nd quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock valued at $2,268,295,000 after buying an additional 103,312 shares during the last quarter. Vanguard Group Inc. grew its stake in Constellation Brands by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock valued at $2,184,613,000 after buying an additional 350,346 shares during the last quarter. State Street Corp grew its stake in Constellation Brands by 0.5% in the 1st quarter. State Street Corp now owns 7,391,582 shares of the company’s stock valued at $1,197,945,000 after buying an additional 39,246 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Constellation Brands by 9.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,578,259 shares of the company’s stock valued at $741,999,000 after buying an additional 378,620 shares during the last quarter. Finally, Egerton Capital UK LLP grew its stake in Constellation Brands by 9.3% in the 2nd quarter. Egerton Capital UK LLP now owns 2,717,567 shares of the company’s stock valued at $526,474,000 after buying an additional 231,984 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.
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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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