Constellation Brands Inc (STZ) Posts Quarterly Earnings Results, Beats Expectations By $0.30 EPS
Constellation Brands Inc (NYSE:STZ) announced its earnings results on Thursday. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.30, Briefing.com reports. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS.
Constellation Brands (NYSE:STZ) traded up 5.24% during trading on Thursday, hitting $211.73. 2,632,165 shares of the stock were exchanged. The stock has a market cap of $41.35 billion, a P/E ratio of 26.56 and a beta of 0.04. The stock’s 50 day moving average price is $200.44 and its 200 day moving average price is $186.43. Constellation Brands has a 12 month low of $144.00 and a 12 month high of $213.40. Constellation Brands also was the recipient of unusually large options trading activity on Wednesday. Investors acquired 8,867 put options on the stock. This is an increase of 667% compared to the average volume of 1,156 put options.
STZ has been the topic of a number of recent analyst reports. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $193.00 price objective (up from $169.00) on shares of Constellation Brands in a research report on Monday. Macquarie initiated coverage on shares of Constellation Brands in a research report on Thursday, September 14th. They issued an “outperform” rating and a $227.00 price objective on the stock. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Cowen and Company reissued a “buy” rating and issued a $230.00 price objective on shares of Constellation Brands in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and an average price target of $203.76.
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In related news, VP Thomas Michael Kane sold 4,940 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction of $954,803.20. Following the sale, the vice president now directly owns 8,914 shares of the company’s stock, valued at approximately $1,722,897.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barry A. Fromberg sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total transaction of $391,860.00. Following the sale, the director now directly owns 22,820 shares in the company, valued at $4,471,122.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,291 shares of company stock worth $16,438,975. 15.59% of the stock is owned by insiders.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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