Truist Securiti Research Analysts Boost Earnings Estimates for Constellation Brands, Inc. (NYSE:STZ)


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Constellation Brands, Inc. (NYSE:STZ) – Equities researchers at Truist Securiti boosted their Q1 2022 earnings estimates for shares of Constellation Brands in a research report issued on Thursday, April 8th. Truist Securiti analyst W. Chappell now forecasts that the company will earn $2.42 per share for the quarter, up from their prior estimate of $2.32. Truist Securiti also issued estimates for Constellation Brands’ Q2 2022 earnings at $2.99 EPS, Q3 2022 earnings at $2.75 EPS, Q4 2022 earnings at $1.93 EPS, FY2022 earnings at $10.09 EPS, Q3 2023 earnings at $3.11 EPS and FY2023 earnings at $11.26 EPS.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 7th. The company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.27. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Constellation Brands had a return on equity of 16.09% and a net margin of 21.63%. Constellation Brands’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 earnings per share.

A number of other equities research analysts also recently weighed in on STZ. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on Constellation Brands from $220.00 to $244.00 in a research note on Friday, January 8th. MKM Partners dropped their price target on shares of Constellation Brands from $219.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, April 9th. The Goldman Sachs Group raised shares of Constellation Brands from a “buy” rating to a “conviction-buy” rating and lifted their price objective for the company from $255.00 to $275.00 in a research note on Tuesday, February 9th. OTR Global upgraded Constellation Brands from a “mixed” rating to a “positive” rating in a report on Thursday, March 25th. Finally, UBS Group upped their price target on Constellation Brands from $238.00 to $256.00 and gave the stock a “buy” rating in a research note on Friday, January 8th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $238.90.

STZ stock opened at $226.57 on Monday. The company has a 50 day moving average of $226.62 and a two-hundred day moving average of $211.38. The company has a quick ratio of 1.01, a current ratio of 1.69 and a debt-to-equity ratio of 0.76. Constellation Brands has a 12-month low of $151.25 and a 12-month high of $242.62. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 3.15 and a beta of 1.12.

Several institutional investors and hedge funds have recently added to or reduced their stakes in STZ. JPMorgan Chase & Co. raised its stake in shares of Constellation Brands by 14.6% in the fourth quarter. JPMorgan Chase & Co. now owns 7,120,717 shares of the company’s stock valued at $1,559,794,000 after purchasing an additional 908,033 shares in the last quarter. Norges Bank acquired a new position in Constellation Brands in the fourth quarter worth about $365,957,000. Nuveen Asset Management LLC grew its stake in shares of Constellation Brands by 4.6% in the 4th quarter. Nuveen Asset Management LLC now owns 882,806 shares of the company’s stock valued at $193,378,000 after purchasing an additional 38,996 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Constellation Brands by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 836,594 shares of the company’s stock worth $183,256,000 after buying an additional 8,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Constellation Brands by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 746,730 shares of the company’s stock worth $163,565,000 after buying an additional 12,494 shares during the period. Institutional investors and hedge funds own 71.90% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 18th. Shareholders of record on Tuesday, May 4th will be given a $0.76 dividend. The ex-dividend date is Monday, May 3rd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.75. Constellation Brands’s dividend payout ratio (DPR) is currently 10.20%.

About Constellation Brands

Constellation Brands, Inc engages in the production, marketing and distribution of beer, wine and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine and dessert wine-and across all price points.

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Earnings History and Estimates for Constellation Brands (NYSE:STZ)

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