Brown Forman Corporation’s (BF.B) “Hold” Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada restated their hold rating on shares of Brown Forman Corporation (NYSE:BF.B) in a research report sent to investors on Tuesday. Royal Bank Of Canada currently has a $51.00 target price on the stock.
Several other analysts have also issued reports on the company. Pivotal Research reissued a buy rating and set a $62.00 target price on shares of Brown Forman Corporation in a report on Monday, September 4th. Zacks Investment Research raised Brown Forman Corporation from a hold rating to a buy rating and set a $57.00 price target for the company in a research note on Thursday, August 31st. Cowen and Company reaffirmed a hold rating and issued a $52.00 price target on shares of Brown Forman Corporation in a research note on Thursday, August 24th. Deutsche Bank AG reaffirmed a hold rating and set a $50.00 price objective on shares of Brown Forman Corporation in a research report on Tuesday, June 13th. Finally, Credit Suisse Group cut shares of Brown Forman Corporation from an outperform rating to a hold rating and upped their price objective for the stock from $51.00 to $53.00 in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Brown Forman Corporation currently has an average rating of Hold and an average price target of $51.70.
Brown Forman Corporation (NYSE:BF.B) last released its quarterly earnings results on Wednesday, August 30th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Brown Forman Corporation had a net margin of 17.84% and a return on equity of 53.63%. The business had revenue of $723.00 million for the quarter, compared to analyst estimates of $690.38 million. During the same period last year, the firm earned $0.36 earnings per share. Brown Forman Corporation’s revenue for the quarter was up 9.4% compared to the same quarter last year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 7th were given a dividend of $0.183 per share. This is an increase from Brown Forman Corporation’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of Infinity. The ex-dividend date of this dividend was Wednesday, September 6th. Brown Forman Corporation’s dividend payout ratio is currently 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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