Brown Forman Corporation (NYSE:BF.B) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.85-1.95 for the period, compared to the Thomson Reuters consensus estimate of $1.85.

Brown Forman Corporation (NYSE:BF.B) last released its earnings results on Wednesday, August 30th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. Brown Forman Corporation had a net margin of 17.29% and a return on equity of 51.93%. The firm had revenue of $723 million for the quarter, compared to the consensus estimate of $690.38 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, September 7th will be issued a $0.183 dividend. This represents a $0.73 annualized dividend and a dividend yield of Infinity. The ex-dividend date is Wednesday, September 6th. This is an increase from Brown Forman Corporation’s previous quarterly dividend of $0.17. Brown Forman Corporation’s payout ratio is 42.94%.

A number of equities research analysts recently issued reports on the stock. Cowen and Company reaffirmed a hold rating and set a $52.00 price target on shares of Brown Forman Corporation in a research note on Thursday, August 24th. Royal Bank Of Canada reaffirmed a hold rating on shares of Brown Forman Corporation in a research note on Thursday, July 27th. Deutsche Bank AG reaffirmed a hold rating and set a $50.00 price target on shares of Brown Forman Corporation in a research note on Tuesday, June 13th. Credit Suisse Group downgraded shares of Brown Forman Corporation from an outperform rating to a hold rating and upped their price target for the company from $51.00 to $53.00 in a research note on Tuesday, June 13th. Finally, Zacks Investment Research downgraded shares of Brown Forman Corporation from a buy rating to a hold rating in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $50.71.

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Brown Forman Corporation Company Profile

Brown-Forman Corporation is a spirit and wine company. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages. The Company has a portfolio of approximately 40 spirit, wine and ready-to-drink cocktail (RTD) brands. Its principal brands include Jack Daniel’s Tennessee Whiskey, Jack Daniel’s RTDs, Jack Daniel’s Tennessee Honey, Gentleman Jack Rare Tennessee Whiskey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Single Barrel Collection, Jack Daniel’s Sinatra Select, Jack Daniel’s Winter Jack, Jack Daniel’s No.

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