Brokerages Expect Constellation Brands, Inc. (NYSE:STZ) to Announce $1.94 EPS

Wall Street brokerages forecast that Constellation Brands, Inc. (NYSE:STZ) will report earnings of $1.94 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Constellation Brands’ earnings, with the lowest EPS estimate coming in at $1.88 and the highest estimate coming in at $1.99. Constellation Brands reported earnings per share of $2.37 during the same quarter last year, which would suggest a negative year-over-year growth rate of 18.1%. The company is expected to issue its next quarterly earnings report on Wednesday, January 8th.

On average, analysts expect that Constellation Brands will report full-year earnings of $8.45 per share for the current fiscal year, with EPS estimates ranging from $8.34 to $8.57. For the next year, analysts anticipate that the firm will report earnings of $9.17 per share, with EPS estimates ranging from $8.51 to $9.72. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Constellation Brands.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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 company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the firm posted $2.87 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis.

Several equities research analysts have weighed in on STZ shares. TheStreet cut Constellation Brands from a “b” rating to a “c+” rating in a research note on Thursday, October 3rd. Morgan Stanley reduced their price objective on Constellation Brands from $227.00 to $214.00 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. OTR Global raised Constellation Brands to a “positive” rating in a research note on Friday, September 27th. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 target price for the company in a research report on Monday, September 23rd. Finally, BMO Capital Markets boosted their target price on Constellation Brands from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands presently has an average rating of “Buy” and a consensus target price of $223.76.

In related news, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the sale, the insider now owns 173,379 shares in the company, valued at $35,468,142.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.86% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MUFG Americas Holdings Corp boosted its holdings in shares of Constellation Brands by 4.7% in the third quarter. MUFG Americas Holdings Corp now owns 62,921 shares of the company’s stock valued at $13,042,000 after purchasing an additional 2,811 shares during the period. Financial Architects Inc increased its holdings in Constellation Brands by 154.8% in the 3rd quarter. Financial Architects Inc now owns 1,646 shares of the company’s stock valued at $341,000 after purchasing an additional 1,000 shares during the last quarter. WT Wealth Management acquired a new stake in Constellation Brands in the 3rd quarter valued at approximately $648,000. Cetera Advisor Networks LLC increased its holdings in Constellation Brands by 5.8% in the 3rd quarter. Cetera Advisor Networks LLC now owns 13,993 shares of the company’s stock valued at $2,897,000 after purchasing an additional 761 shares during the last quarter. Finally, Bogart Wealth LLC increased its holdings in Constellation Brands by 7.6% in the 3rd quarter. Bogart Wealth LLC now owns 2,312 shares of the company’s stock valued at $479,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 71.61% of the company’s stock.

NYSE STZ traded down $3.21 during trading hours on Tuesday, hitting $179.65. 1,800,609 shares of the company were exchanged, compared to its average volume of 927,657. The stock has a 50-day moving average price of $194.46 and a 200 day moving average price of $197.38. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 1.04. Constellation Brands has a 52 week low of $150.37 and a 52 week high of $214.48. The stock has a market cap of $35.04 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.67%. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.

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 and Estimates for Constellation Brands (NYSE:STZ)

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