Zacks: Analysts Expect Brown Forman Corporation (BF.B) to Post $0.53 EPS
Equities analysts forecast that Brown Forman Corporation (NYSE:BF.B) will report earnings per share (EPS) of $0.53 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Brown Forman Corporation’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.52. Brown Forman Corporation posted earnings of $0.50 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6%. The firm is scheduled to announce its next earnings report on Wednesday, December 6th.
According to Zacks, analysts expect that Brown Forman Corporation will report full-year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.88 to $1.93. For the next year, analysts anticipate that the firm will post earnings of $2.05 per share, with EPS estimates ranging from $2.01 to $2.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for Brown Forman Corporation.
Brown Forman Corporation (NYSE:BF.B) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The firm had revenue of $723.00 million during the quarter, compared to analysts’ expectations of $690.38 million. Brown Forman Corporation had a net margin of 17.84% and a return on equity of 53.63%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share.
Several research firms recently weighed in on BF.B. Goldman Sachs Group, Inc. (The) upgraded shares of Brown Forman Corporation from a “sell” rating to a “neutral” rating and set a $56.00 price target for the company in a research report on Thursday. Berenberg Bank restated a “hold” rating and set a $46.00 price target on shares of Brown Forman Corporation in a research report on Monday, September 18th. Credit Suisse Group lowered shares of Brown Forman Corporation from an “outperform” rating to a “hold” rating and increased their price target for the company from $51.00 to $53.00 in a research report on Tuesday, June 13th. Royal Bank Of Canada restated a “hold” rating on shares of Brown Forman Corporation in a research report on Thursday, July 27th. Finally, Cowen and Company restated a “hold” rating and set a $52.00 price target on shares of Brown Forman Corporation in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.70.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 7th will be issued a dividend of $0.183 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This is an increase from Brown Forman Corporation’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of Infinity. Brown Forman Corporation’s dividend payout ratio is 40.56%.
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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