Brown-Forman (BF.B) Updates FY19 Earnings Guidance

Brown-Forman (NYSE:BF.B) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.65-1.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.70. The company issued revenue guidance of +6-7% to ~$3.44-3.48 billion, compared to the consensus revenue estimate of $3.39 billion.

NYSE:BF.B traded down $0.40 during trading hours on Thursday, hitting $46.26. 50,327 shares of the company were exchanged, compared to its average volume of 1,099,164. The company has a market cap of $22.45 billion, a PE ratio of 31.15, a P/E/G ratio of 3.09 and a beta of 0.85. Brown-Forman has a 52-week low of $45.63 and a 52-week high of $59.58. The company has a current ratio of 3.02, a quick ratio of 1.35 and a debt-to-equity ratio of 1.69.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Thursday, December 6th will be issued a $0.166 dividend. This is an increase from Brown-Forman’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, December 5th. Brown-Forman’s dividend payout ratio is 42.57%.

Several research firms have recently commented on BF.B. Pivotal Research reaffirmed a buy rating and issued a $65.00 price objective on shares of Brown-Forman in a report on Wednesday. Zacks Investment Research downgraded shares of Brown-Forman from a hold rating to a sell rating in a report on Monday. Jefferies Financial Group assumed coverage on shares of Brown-Forman in a report on Friday, September 7th. They set a hold rating on the stock. Finally, Deutsche Bank upped their price objective on shares of Brown-Forman from $52.00 to $53.00 and gave the stock a hold rating in a research report on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Brown-Forman presently has an average rating of Hold and a consensus target price of $57.66.

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About Brown-Forman

Brown-Forman Corporation is a spirit and wine company. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages. The Company has a portfolio of approximately 40 spirit, wine and ready-to-drink cocktail (RTD) brands. Its principal brands include Jack Daniel’s Tennessee Whiskey, Jack Daniel’s RTDs, Jack Daniel’s Tennessee Honey, Gentleman Jack Rare Tennessee Whiskey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Single Barrel Collection, Jack Daniel’s Sinatra Select, Jack Daniel’s Winter Jack, Jack Daniel’s No.

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Earnings History and Estimates for Brown-Forman (NYSE:BF.B)

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