Equities research analysts forecast that Constellation Brands, Inc. (NYSE:STZ) will report sales of $2.06 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Constellation Brands’ earnings, with estimates ranging from $2.05 billion to $2.07 billion. Constellation Brands posted sales of $2.05 billion during the same quarter last year, which suggests a positive year over year growth rate of 0.5%. The company is scheduled to announce its next quarterly earnings report on Friday, July 5th.
On average, analysts expect that Constellation Brands will report full year sales of $7.72 billion for the current fiscal year, with estimates ranging from $7.67 billion to $7.77 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.07 billion, with estimates ranging from $7.93 billion to $8.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 4th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis.
A number of research firms recently commented on STZ. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Jefferies Financial Group increased their price target on Constellation Brands from $267.00 to $275.00 and gave the company a “top pick” rating in a report on Monday, April 22nd. Macquarie set a $183.00 price target on Constellation Brands and gave the company a “hold” rating in a report on Friday, April 5th. Barclays set a $226.00 price target on Constellation Brands and gave the company a “buy” rating in a report on Friday, April 5th. Finally, ValuEngine upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and an average target price of $223.13.
NYSE:STZ opened at $204.99 on Thursday. Constellation Brands has a 52 week low of $150.37 and a 52 week high of $234.26. The company has a market capitalization of $39.40 billion, a P/E ratio of 22.09, a PEG ratio of 2.75 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.75 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Constellation Brands’s dividend payout ratio (DPR) is presently 10.02%.
In other news, EVP David Eric Klein sold 25,980 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $198.66, for a total value of $5,161,186.80. Following the sale, the executive vice president now owns 69,852 shares in the company, valued at $13,876,798.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Barry A. Fromberg sold 1,500 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $174.72, for a total transaction of $262,080.00. Following the completion of the sale, the director now owns 18,240 shares in the company, valued at approximately $3,186,892.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,551 shares of company stock worth $6,007,002. 15.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Cipher Capital LP lifted its position in Constellation Brands by 205.6% in the fourth quarter. Cipher Capital LP now owns 50,775 shares of the company’s stock worth $8,165,000 after purchasing an additional 34,159 shares during the period. California State Teachers Retirement System lifted its position in Constellation Brands by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 258,400 shares of the company’s stock worth $41,556,000 after purchasing an additional 4,443 shares during the period. Convergence Investment Partners LLC bought a new position in Constellation Brands in the fourth quarter worth $1,239,000. BOKF NA lifted its position in Constellation Brands by 197.8% in the fourth quarter. BOKF NA now owns 8,970 shares of the company’s stock worth $1,443,000 after purchasing an additional 5,958 shares during the period. Finally, Oak Grove Capital LLC lifted its position in Constellation Brands by 308.3% in the fourth quarter. Oak Grove Capital LLC now owns 7,350 shares of the company’s stock worth $1,182,000 after purchasing an additional 5,550 shares during the period. Institutional investors and hedge funds own 74.05% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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