Wall Street analysts expect that Constellation Brands, Inc. (NYSE:STZ) will announce sales of $1.95 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Constellation Brands’ earnings, with the lowest sales estimate coming in at $1.82 billion and the highest estimate coming in at $2.06 billion. Constellation Brands reported sales of $1.97 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1%. The company is expected to announce its next quarterly earnings results on Wednesday, January 8th.
According to Zacks, analysts expect that Constellation Brands will report full-year sales of $8.05 billion for the current financial year, with estimates ranging from $7.91 billion to $8.14 billion. For the next year, analysts anticipate that the business will report sales of $7.95 billion, with estimates ranging from $7.67 billion to $8.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.60 by $0.12. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the company posted $2.87 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis.
Shares of STZ opened at $196.81 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.61. Constellation Brands has a one year low of $150.37 and a one year high of $218.45. The stock has a market capitalization of $37.76 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.95 and a beta of 0.69. The stock has a 50 day moving average price of $201.30 and a 200 day moving average price of $198.07.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, November 7th. Constellation Brands’s dividend payout ratio is presently 10.02%.
In other news, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the transaction, the insider now directly owns 173,379 shares in the company, valued at approximately $35,468,142.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 15.86% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,137,423 shares of the company’s stock worth $2,390,344,000 after purchasing an additional 122,268 shares during the period. Bank of America Corp DE grew its holdings in shares of Constellation Brands by 65.0% during the 2nd quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock worth $697,895,000 after purchasing an additional 1,395,888 shares during the period. Jennison Associates LLC grew its holdings in shares of Constellation Brands by 120.4% during the 2nd quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock worth $537,087,000 after purchasing an additional 1,490,064 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Constellation Brands by 11.4% during the 2nd quarter. Janus Henderson Group PLC now owns 2,363,365 shares of the company’s stock worth $465,445,000 after purchasing an additional 242,621 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Constellation Brands by 68.1% during the 2nd quarter. Invesco Ltd. now owns 1,552,996 shares of the company’s stock worth $305,847,000 after purchasing an additional 629,124 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.
Constellation Brands Company Profile
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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