Constellation Brands Inc (STZ) Posts Earnings Results, Beats Expectations By $0.30 EPS
Constellation Brands Inc (NYSE:STZ) issued its quarterly earnings results on Thursday. The company reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.30, Briefing.com reports. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm posted $1.77 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis.
Constellation Brands (NYSE:STZ) traded up 3.95% during trading on Thursday, hitting $209.13. 2,074,507 shares of the stock traded hands. The company has a 50-day moving average price of $200.44 and a 200-day moving average price of $186.43. Constellation Brands has a 12 month low of $144.00 and a 12 month high of $213.40. The stock has a market cap of $40.84 billion, a PE ratio of 26.23 and a beta of 0.04. Constellation Brands also was the recipient of unusually large options trading activity on Wednesday. Investors acquired 8,867 put options on the company. This represents an increase of 667% compared to the typical volume of 1,156 put options.
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A number of brokerages have recently weighed in on STZ. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $220.00 price target (up previously from $188.00) on shares of Constellation Brands in a report on Friday, June 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. UBS AG upped their price target on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, June 30th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $193.00 price target (up previously from $169.00) on shares of Constellation Brands in a report on Monday. Finally, Argus upped their price target on shares of Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $203.76.
In other news, Director Barry A. Fromberg sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were 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 directly owns 22,820 shares in the company, valued at approximately $4,471,122.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas J. Mullin sold 54,834 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the completion of the sale, the vice president now owns 86,005 shares of the company’s stock, valued at $16,727,972.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,291 shares of company stock valued at $16,438,975. Company insiders own 15.59% of the company’s stock.
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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