Constellation Brands Inc. (STZ) to Post Q3 2017 Earnings of $1.69 Per Share, SunTrust Banks Forecasts
Constellation Brands Inc. (NYSE:STZ) – Equities researchers at SunTrust Banks decreased their Q3 2017 EPS estimates for shares of Constellation Brands in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst W. Chappell now anticipates that the brokerage will post earnings of $1.69 per share for the quarter, down from their previous estimate of $1.73. SunTrust Banks also issued estimates for Constellation Brands’ Q4 2017 earnings at $1.43 EPS, FY2017 earnings at $6.41 EPS, Q2 2018 earnings at $2.09 EPS, Q3 2018 earnings at $1.81 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $7.29 EPS and FY2019 earnings at $8.35 EPS.
Several other research firms have also recently commented on STZ. Morgan Stanley reissued an “overweight” rating and set a $194.00 target price (up previously from $191.00) on shares of Constellation Brands in a research report on Saturday. Pivotal Research reissued a “buy” rating and set a $200.00 target price on shares of Constellation Brands in a research report on Thursday. Bank of America Corp. reissued a “buy” rating and set a $195.00 target price on shares of Constellation Brands in a research report on Thursday. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Finally, RBC Capital Markets set a $181.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $176.75.
Shares of Constellation Brands (NYSE:STZ) traded down 1.28% during midday trading on Friday, reaching $168.84. The company had a trading volume of 1,751,101 shares. The company has a 50 day moving average price of $165.62 and a 200-day moving average price of $160.44. The firm has a market capitalization of $33.85 billion, a P/E ratio of 30.42 and a beta of 0.63. Constellation Brands has a one year low of $130.23 and a one year high of $173.55.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.12. The business had revenue of $2.02 billion for the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 EPS.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 4th. This represents a $1.60 annualized dividend and a yield of 0.95%. Constellation Brands’s dividend payout ratio (DPR) is presently 27.49%.
In related news, VP F Paul Hetterich sold 10,000 shares of the company’s stock in a transaction on Monday, July 11th. The shares were 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 directly owns 61,404 shares in the company, valued at $10,107,098.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas Michael Kane sold 7,000 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the completion of the transaction, the vice president now owns 8,764 shares of the company’s stock, valued at $1,430,810.64. The disclosure for this sale can be found here. 10.63% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock valued at $103,000 after buying an additional 14 shares during the period. PineBridge Investments L.P. raised its position in shares of Constellation Brands by 331.3% in the second quarter. PineBridge Investments L.P. now owns 690 shares of the company’s stock valued at $115,000 after buying an additional 530 shares during the period. Invictus RG bought a new position in shares of Constellation Brands during the first quarter valued at about $110,000. Hanson McClain Inc. raised its position in shares of Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock valued at $126,000 after buying an additional 2 shares during the period. Finally, Daiwa SB Investments Ltd. bought a new position in shares of Constellation Brands during the second quarter valued at about $134,000. Institutional investors 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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