Brokerages predict that Constellation Brands, Inc. (NYSE:STZ) will report sales of $1.76 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Constellation Brands’ earnings. The lowest sales estimate is $1.73 billion and the highest is $1.80 billion. Constellation Brands reported sales of $1.63 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The business is scheduled to announce its next earnings report on Thursday, April 5th.
According to Zacks, analysts expect that Constellation Brands will report full-year sales of $1.76 billion for the current financial year, with estimates ranging from $7.55 billion to $7.62 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.12 billion per share, with estimates ranging from $8.04 billion to $8.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.87 by $0.13. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share.
In other Constellation Brands news, VP Thomas J. Mullin sold 18,227 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the sale, the vice president now directly owns 72,924 shares in the company, valued at $15,825,237.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its stake in shares of Constellation Brands by 50.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after acquiring an additional 193 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Constellation Brands in the 2nd quarter valued at $234,000. BT Investment Management Ltd bought a new position in shares of Constellation Brands in the 2nd quarter valued at $500,000. Profund Advisors LLC lifted its stake in shares of Constellation Brands by 28.6% in the 2nd quarter. Profund Advisors LLC now owns 5,425 shares of the company’s stock valued at $1,051,000 after acquiring an additional 1,208 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Constellation Brands by 1.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,440 shares of the company’s stock valued at $1,248,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.
Constellation Brands (NYSE:STZ) opened at $219.22 on Thursday. Constellation Brands has a 12-month low of $146.99 and a 12-month high of $229.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.40 and a quick ratio of 0.54. The company has a market capitalization of $42,940.00, a P/E ratio of 26.64, a PEG ratio of 1.34 and a beta of 0.08.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 8th. Constellation Brands’s dividend payout ratio (DPR) is currently 11.30%.
Constellation Brands announced that its Board of Directors has initiated a stock repurchase plan on Friday, January 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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