Equities analysts forecast that Constellation Brands, Inc. (NYSE:STZ) will announce earnings of $2.09 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Constellation Brands’ earnings, with estimates ranging from $2.00 to $2.19. Constellation Brands reported earnings of $2.20 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 5%. The firm is expected to report its next quarterly earnings report on Friday, July 5th.
On average, analysts expect that Constellation Brands will report full-year earnings of $8.51 per share for the current financial year, with EPS estimates ranging from $8.29 to $8.79. For the next fiscal year, analysts anticipate that the company will post earnings of $9.69 per share, with EPS estimates ranging from $9.34 to $9.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Constellation Brands.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 4th. The company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.12. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. Constellation Brands’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS.
A number of equities analysts recently weighed in on STZ shares. Credit Suisse Group set a $230.00 price target on Constellation Brands and gave the stock a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Morgan Stanley set a $233.00 price target on Constellation Brands and gave the stock a “buy” rating in a research note on Thursday, February 14th. Macquarie set a $183.00 price target on Constellation Brands and gave the stock a “hold” rating in a research note on Friday, April 5th. Finally, Atlantic Securities started coverage on Constellation Brands in a research note on Monday, January 21st. They issued an “overweight” rating and a $227.00 price target on the stock. Eleven investment 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. The stock currently has a consensus rating of “Buy” and an average price target of $223.13.
In other news, EVP David Eric Klein sold 25,980 shares of Constellation Brands stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $198.66, for a total transaction of $5,161,186.80. Following the completion of the sale, the executive vice president now directly owns 69,852 shares in the company, valued at approximately $13,876,798.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Robert Sands sold 23,611 shares of Constellation Brands stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $206.48, for a total value of $4,875,199.28. Following the sale, the chairman now owns 570,857 shares of the company’s stock, valued at $117,870,553.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,646 shares of company stock worth $15,572,098. Company insiders own 15.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Constellation Brands by 14.7% during the 1st quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after buying an additional 1,734,902 shares during the last quarter. Vanguard Group Inc lifted its holdings in Constellation Brands by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock worth $2,590,276,000 after purchasing an additional 30,782 shares during the last quarter. Jackson Square Partners LLC acquired a new stake in Constellation Brands in the 1st quarter worth approximately $395,015,000. Janus Henderson Group PLC lifted its holdings in Constellation Brands by 53.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock worth $371,831,000 after purchasing an additional 737,613 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Constellation Brands by 8.3% in the 1st quarter. Geode Capital Management LLC now owns 2,098,728 shares of the company’s stock worth $367,258,000 after purchasing an additional 161,658 shares during the last quarter. Institutional investors and hedge funds own 74.05% of the company’s stock.
STZ traded up $1.95 during trading on Tuesday, reaching $205.00. The company had a trading volume of 1,748,252 shares, compared to its average volume of 2,307,833. The stock has a market capitalization of $39.22 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.80 and a beta of 0.54. Constellation Brands has a 12-month low of $150.37 and a 12-month high of $234.26. The company has a current ratio of 1.16, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s payout ratio is 10.02%.
About Constellation Brands
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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