Zacks: Analysts Expect Brown Forman Corporation (BF.B) Will Post Quarterly Sales of $867.82 Million
Brokerages expect Brown Forman Corporation (NYSE:BF.B) to post sales of $867.82 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Brown Forman Corporation’s earnings, with the highest sales estimate coming in at $883.62 million and the lowest estimate coming in at $850.80 million. Brown Forman Corporation reported sales of $830.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.6%. The firm is expected to report its next earnings report on Wednesday, December 6th.
On average, analysts expect that Brown Forman Corporation will report full year sales of $867.82 million for the current financial year, with estimates ranging from $3.13 billion to $3.25 billion. For the next financial year, analysts forecast that the company will post sales of $3.34 billion per share, with estimates ranging from $3.24 billion to $3.43 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Brown Forman Corporation.
Brown Forman Corporation (NYSE:BF.B) last released its earnings results on Wednesday, August 30th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.07. The company had revenue of $723.00 million for the quarter, compared to the consensus estimate of $690.38 million. Brown Forman Corporation had a net margin of 17.84% and a return on equity of 53.63%. Brown Forman Corporation’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS.
BF.B has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Brown Forman Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 31st. Pivotal Research reaffirmed a “buy” rating and issued a $62.00 target price on shares of Brown Forman Corporation in a report on Monday, September 4th. Berenberg Bank reaffirmed a “hold” rating and issued a $46.00 target price on shares of Brown Forman Corporation in a report on Monday, September 18th. Cowen and Company reaffirmed a “hold” rating and issued a $52.00 target price on shares of Brown Forman Corporation in a report on Thursday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Brown Forman Corporation in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.40.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, September 7th were given a dividend of $0.183 per share. This is a positive change from Brown Forman Corporation’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of Infinity. The ex-dividend date of this dividend was Wednesday, September 6th. Brown Forman Corporation’s payout ratio is presently 40.56%.
Brown Forman Corporation Company Profile
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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