Constellation Brands Inc. (STZ) Releases FY17 Earnings Guidance
Constellation Brands Inc. (NYSE:STZ) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $6.30-6.45 for the period, compared to the Thomson Reuters consensus estimate of $6.30.
Shares of Constellation Brands Inc. (NYSE:STZ) opened at 165.85 on Wednesday. The firm has a market cap of $33.25 billion, a P/E ratio of 29.88 and a beta of 0.63. Constellation Brands Inc. has a one year low of $130.23 and a one year high of $168.68. The firm’s 50-day moving average price is $165.24 and its 200 day moving average price is $160.15.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The firm earned $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 earnings per share. Analysts predict that Constellation Brands Inc. will post $6.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.96%. Constellation Brands’s dividend payout ratio is 28.78%.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Constellation Brands from a sell rating to a hold rating and set a $183.00 price objective for the company in a report on Friday, July 1st. Credit Suisse Group AG assumed coverage on Constellation Brands in a report on Thursday, September 15th. They set a neutral rating and a $178.00 price objective for the company. Susquehanna restated a hold rating on shares of Constellation Brands in a report on Monday, August 8th. Royal Bank Of Canada restated an outperform rating and set a $181.00 price objective on shares of Constellation Brands in a report on Wednesday, June 22nd. Finally, RBC Capital Markets set a $181.00 price target on Constellation Brands and gave the stock a buy rating in a report on Wednesday, September 28th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $175.27.
In other Constellation Brands news, EVP William F. Hackett sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $164.67, for a total value of $1,317,360.00. Following the transaction, the executive vice president now directly owns 54,934 shares in the company, valued at approximately $9,045,981.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP F Paul Hetterich sold 10,000 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $164.60, for a total value of $1,646,000.00. Following the completion of the transaction, the vice president now owns 61,404 shares in the company, valued at $10,107,098.40. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in shares of Constellation Brands by 19.2% in the second quarter. Alliancebernstein L.P. now owns 349,401 shares of the company’s stock worth $57,791,000 after buying an additional 56,166 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Constellation Brands by 41.2% in the second quarter. Canada Pension Plan Investment Board now owns 107,311 shares of the company’s stock worth $17,749,000 after buying an additional 31,300 shares in the last quarter. Employees Retirement System of Texas raised its position in shares of Constellation Brands by 6.3% in the second quarter. Employees Retirement System of Texas now owns 42,500 shares of the company’s stock worth $7,030,000 after buying an additional 2,500 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Constellation Brands during the second quarter worth $364,000. Finally, Reliance Trust Co. of Delaware raised its position in shares of Constellation Brands by 13.7% in the second quarter. Reliance Trust Co. of Delaware now owns 2,202 shares of the company’s stock worth $364,000 after buying an additional 265 shares in the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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