Brown Forman Corporation (NYSE: BF.B) has recently received a number of price target changes and ratings updates:

  • 10/12/2017 – Brown Forman Corporation had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $54.00 price target on the stock.
  • 10/6/2017 – Brown Forman Corporation had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $50.00 price target on the stock.
  • 10/3/2017 – Brown Forman Corporation had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $51.00 price target on the stock.
  • 9/28/2017 – Brown Forman Corporation was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “sell” rating to a “neutral” rating. They now have a $56.00 price target on the stock.
  • 9/18/2017 – Brown Forman Corporation had its “hold” rating reaffirmed by analysts at Berenberg Bank. They now have a $46.00 price target on the stock.
  • 9/4/2017 – Brown Forman Corporation had its “buy” rating reaffirmed by analysts at Pivotal Research. They now have a $62.00 price target on the stock.
  • 8/31/2017 – Brown Forman Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $57.00 price target on the stock. According to Zacks, “Brown-Forman outperformed the industry in the past month driven by robust outlook for fiscal 2018. The company retained underlying net sales and operating income forecasts after posting solid a first-quarter fiscal 2018, wherein both earnings and sales topped estimates. In fact, the bottom line reflected a turnaround from the dismal earnings reported in the prior quarter, benefiting from sturdy operating income growth and lower tax rate. Also, the company raised earnings projections for fiscal 2018, reflecting reduced tax rate and diminished foreign currency headwinds. Further, Brown-Forman is confident of growth at its premium American whiskey and tequila brands. Also, it expects to gain from new product launches including Jack Daniel's Tennessee Rye and Slane Irish Whiskey. However, the company anticipates volatile global economic situation, mainly in emerging markets, and intense competition in developed economies to hinder results.”
  • 8/24/2017 – Brown Forman Corporation had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $52.00 price target on the stock.

Brown Forman Corporation (NYSE:BF.B) last released its quarterly earnings data on Wednesday, August 30th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. Brown Forman Corporation had a net margin of 17.84% and a return on equity of 53.63%. The company had revenue of $723.00 million during the quarter, compared to analyst estimates of $690.38 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 7th were paid a $0.183 dividend. The ex-dividend date was Wednesday, September 6th. This is a positive change from Brown Forman Corporation’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of Infinity. Brown Forman Corporation’s dividend payout ratio is 40.56%.

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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