Zacks: Brokerages Expect Constellation Brands Inc (STZ) to Post $1.88 EPS
Brokerages predict that Constellation Brands Inc (NYSE:STZ) will post earnings of $1.88 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Constellation Brands’ earnings. The lowest EPS estimate is $1.84 and the highest is $1.90. Constellation Brands posted earnings of $1.96 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.1%. The business is expected to issue its next quarterly earnings report on Thursday, January 4th.
According to Zacks, analysts expect that Constellation Brands will report full-year earnings of $8.43 per share for the current year, with EPS estimates ranging from $8.34 to $8.50. For the next fiscal year, analysts anticipate that the company will post earnings of $9.28 per share, with EPS estimates ranging from $9.10 to $9.36. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Constellation Brands.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.30. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. Constellation Brands’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS.
A number of brokerages have recently issued reports on STZ. Argus upped their price target on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 5th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $230.00 price target on shares of Constellation Brands in a report on Friday, October 6th. Evercore ISI reaffirmed an “outperform” rating and set a $235.00 price target (up from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. Pivotal Research upped their price target on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price target (up from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Constellation Brands currently has an average rating of “Buy” and an average target price of $216.00.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total value of $520,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William A. Newlands sold 2,935 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $210.10, for a total value of $616,643.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,786 shares of company stock valued at $24,740,206. Company insiders own 15.59% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. DSAM Partners London Ltd purchased a new stake in Constellation Brands in the second quarter worth about $21,659,000. Brighton Jones LLC purchased a new stake in Constellation Brands in the second quarter worth about $245,000. Cipher Capital LP purchased a new stake in Constellation Brands in the second quarter worth about $7,833,000. D L Carlson Investment Group Inc. increased its position in Constellation Brands by 22.3% in the second quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock worth $5,310,000 after buying an additional 5,005 shares in the last quarter. Finally, Oak Ridge Investments LLC increased its position in Constellation Brands by 24.4% in the second quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock worth $6,956,000 after buying an additional 7,052 shares in the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
Shares of Constellation Brands (NYSE:STZ) opened at 213.64 on Wednesday. Constellation Brands has a 52-week low of $144.00 and a 52-week high of $213.90. The stock has a market capitalization of $41.79 billion, a price-to-earnings ratio of 24.54 and a beta of 0.04. The company has a 50-day moving average price of $202.77 and a 200-day moving average price of $188.88.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Monday, November 6th. Constellation Brands’s payout ratio is 23.85%.
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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