Constellation Brands (NYSE:STZ) Releases Earnings Results, Beats Expectations By $0.15 EPS

Constellation Brands (NYSE:STZ) posted its quarterly earnings data on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.15, Briefing.com reports. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.07 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. Constellation Brands updated its FY 2020 guidance to $8.65-8.95 EPS and its FY20 guidance to $8.65-8.95 EPS.

Shares of STZ traded down $1.03 during trading hours on Friday, reaching $201.57. 1,029,240 shares of the company traded hands, compared to its average volume of 1,610,142. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.22 and a quick ratio of 0.71. The company has a market cap of $38.81 billion, a PE ratio of 21.72, a PEG ratio of 3.04 and a beta of 0.73. Constellation Brands has a fifty-two week low of $150.37 and a fifty-two week high of $228.91. The company’s fifty day moving average price is $190.95.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, August 12th. Constellation Brands’s payout ratio is currently 32.33%.

Several equities research analysts have recently commented on STZ shares. Macquarie set a $220.00 price target on Constellation Brands and gave the stock a “hold” rating in a research note on Wednesday, June 5th. UBS Group set a $54.00 price target on Westlake Chemical and gave the stock a “sell” rating in a research note on Tuesday, July 2nd. Deutsche Bank upped their price target on Snap from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Citigroup set a $210.00 price target on Constellation Brands and gave the stock a “hold” rating in a research note on Monday, July 1st. Finally, Bank of America set a $221.00 price objective on Constellation Brands and gave the stock a “buy” rating in a research report on Monday, July 1st. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $225.35.

In other Constellation Brands news, Vice Chairman Richard Sands sold 23,984 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $206.47, for a total value of $4,951,976.48. Following the sale, the insider now directly owns 173,860 shares of the company’s stock, valued at approximately $35,896,874.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the completion of the sale, the director now directly owns 27,630 shares in the company, valued at $5,452,780.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,083 shares of company stock worth $12,675,054. Corporate insiders own 15.86% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Earnings History for Constellation Brands (NYSE:STZ)

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