Constellation Brands Inc (STZ) Releases FY18 Earnings Guidance
Constellation Brands Inc (NYSE:STZ) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $8.25-8.40 for the period, compared to the Thomson Reuters consensus estimate of $8.18.
Several research firms have recently weighed in on STZ. J P Morgan Chase & Co reissued an overweight rating and issued a $220.00 price objective (up from $188.00) on shares of Constellation Brands in a research report on Friday, June 30th. Royal Bank Of Canada reissued an outperform rating and issued a $220.00 price objective (up from $205.00) on shares of Constellation Brands in a research report on Friday, June 30th. UBS AG lifted their price objective on Constellation Brands from $162.00 to $176.00 and gave the stock a neutral rating in a research report on Friday, June 30th. 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. Finally, Pivotal Research lifted their price objective on Constellation Brands from $250.00 to $265.00 and gave the stock a buy rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $206.41.
Shares of Constellation Brands Inc (NYSE:STZ) traded up 4.01% during mid-day trading on Thursday, reaching $209.25. The company had a trading volume of 4,921,226 shares. The firm has a 50-day moving average of $200.44 and a 200-day moving average of $186.43. The company has a market capitalization of $40.87 billion, a P/E ratio of 26.24 and a beta of 0.04. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $213.40. Constellation Brands also was the target of unusually large options trading activity on Wednesday. Stock investors bought 8,867 put options on the stock. This represents an increase of 667% compared to the average daily volume of 1,156 put options.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the business posted $1.77 earnings per share. Constellation Brands’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Constellation Brands Inc will post $8.18 earnings per share for the current fiscal year.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the transaction, the director now owns 22,820 shares of the company’s stock, valued at $4,471,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of the firm’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 transaction, the vice president now directly owns 8,914 shares of the company’s stock, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. Insiders sold 84,291 shares of company stock valued at $16,438,975 over the last 90 days. 15.59% of the stock is currently owned by company insiders.
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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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