Zacks: Brokerages Anticipate Constellation Brands, Inc. (NYSE:STZ) to Announce $2.88 Earnings Per Share

Wall Street brokerages forecast that Constellation Brands, Inc. (NYSE:STZ) will post $2.88 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Constellation Brands’ earnings. The lowest EPS estimate is $2.75 and the highest is $3.11. Constellation Brands reported earnings per share of $3.09 in the same quarter last year, which indicates a negative year-over-year growth rate of 6.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, January 6th.

On average, analysts expect that Constellation Brands will report full year earnings of $10.03 per share for the current year, with EPS estimates ranging from $9.80 to $10.27. For the next financial year, analysts anticipate that the business will post earnings of $11.85 per share, with EPS estimates ranging from $11.34 to $12.22. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Constellation Brands.

Constellation Brands (NYSE:STZ) last announced its earnings results on Tuesday, October 5th. The company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.78 by ($0.40). Constellation Brands had a net margin of 13.47% and a return on equity of 14.99%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business earned $2.76 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. UBS Group lifted their price objective on Constellation Brands from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. Jefferies Financial Group lifted their price objective on Constellation Brands from $295.00 to $298.00 and gave the company a “buy” rating in a research note on Monday, June 28th. Barclays decreased their price objective on Constellation Brands from $260.00 to $257.00 and set an “overweight” rating for the company in a research note on Friday, October 8th. BMO Capital Markets raised their target price on Constellation Brands from $223.00 to $242.00 and gave the stock a “hold” rating in a research report on Thursday, July 1st. Finally, HSBC raised Constellation Brands from a “hold” rating to a “buy” rating and set a $262.00 target price on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Buy” and a consensus target price of $255.76.

A number of large investors have recently made changes to their positions in the business. Alpha Omega Wealth Management LLC increased its stake in Constellation Brands by 41.3% during the third quarter. Alpha Omega Wealth Management LLC now owns 21,169 shares of the company’s stock worth $4,460,000 after acquiring an additional 6,189 shares during the last quarter. Jacobs & Co. CA boosted its position in shares of Constellation Brands by 12.3% in the third quarter. Jacobs & Co. CA now owns 38,825 shares of the company’s stock worth $8,180,000 after buying an additional 4,241 shares during the period. CHICAGO TRUST Co NA boosted its position in shares of Constellation Brands by 30.5% in the third quarter. CHICAGO TRUST Co NA now owns 2,310 shares of the company’s stock worth $487,000 after buying an additional 540 shares during the period. Gofen & Glossberg LLC IL boosted its position in shares of Constellation Brands by 149.5% in the third quarter. Gofen & Glossberg LLC IL now owns 65,088 shares of the company’s stock worth $13,713,000 after buying an additional 38,997 shares during the period. Finally, Wealth Advisors of Tampa Bay LLC boosted its position in shares of Constellation Brands by 9.9% in the third quarter. Wealth Advisors of Tampa Bay LLC now owns 7,712 shares of the company’s stock worth $1,625,000 after buying an additional 696 shares during the period. Institutional investors own 70.41% of the company’s stock.

Shares of Constellation Brands stock opened at $219.13 on Thursday. The business has a 50-day moving average of $214.25 and a 200 day moving average of $225.99. Constellation Brands has a 12 month low of $160.63 and a 12 month high of $244.75. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 3.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.61 and a quick ratio of 0.94.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 19th. Investors of record on Friday, November 5th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, November 4th. This represents a $3.04 annualized dividend and a yield of 1.39%. Constellation Brands’s payout ratio is currently 9.33%.

Constellation Brands Company Profile

Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.

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Earnings History and Estimates for Constellation Brands (NYSE:STZ)

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