Equities analysts expect that Constellation Brands, Inc. (NYSE:STZ) will post sales of $1.91 billion for the current quarter, according to Zacks. Five analysts have issued estimates for Constellation Brands’ earnings, with the highest sales estimate coming in at $1.92 billion and the lowest estimate coming in at $1.90 billion. Constellation Brands posted sales of $1.80 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The firm is scheduled to announce its next quarterly earnings report on Friday, January 4th.
On average, analysts expect that Constellation Brands will report full year sales of $8.14 billion for the current year, with estimates ranging from $8.11 billion to $8.16 billion. For the next year, analysts anticipate that the business will post sales of $8.70 billion, with estimates ranging from $8.64 billion to $8.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 EPS.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $222.00 price objective on the stock in a research note on Wednesday. ValuEngine cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Macquarie set a $245.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, October 5th. Bank of America lowered their price objective on shares of Constellation Brands from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Finally, Morgan Stanley lowered their price objective on shares of Constellation Brands from $258.00 to $251.00 and set a “buy” rating on the stock in a research note on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has an average rating of “Buy” and an average target price of $244.27.
Shares of NYSE STZ opened at $191.17 on Thursday. The stock has a market capitalization of $37.09 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.92 and a beta of 0.05. Constellation Brands has a 52 week low of $187.87 and a 52 week high of $236.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.76 and a current ratio of 1.66.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, November 5th. This represents a $2.96 annualized dividend and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio is currently 33.94%.
In other Constellation Brands news, Chairman Richard Sands sold 148,773 shares of the firm’s stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the sale, the chairman now directly owns 346,525 shares of the company’s stock, valued at approximately $77,514,177.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Michael Kane sold 4,419 shares of the firm’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $223.83, for a total transaction of $989,104.77. Following the sale, the vice president now directly owns 8,499 shares in the company, valued at $1,902,331.17. The disclosure for this sale can be found here. Insiders have sold a total of 578,723 shares of company stock worth $129,438,449 over the last ninety days. 15.80% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in STZ. TIAA CREF Investment Management LLC boosted its stake in shares of Constellation Brands by 98.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,299,152 shares of the company’s stock worth $280,123,000 after purchasing an additional 644,939 shares during the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of Constellation Brands by 229.3% during the 2nd quarter. Standard Life Aberdeen plc now owns 748,508 shares of the company’s stock worth $164,208,000 after acquiring an additional 521,174 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Constellation Brands by 689.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 584,421 shares of the company’s stock worth $126,013,000 after acquiring an additional 510,376 shares during the period. Third Point LLC lifted its holdings in shares of Constellation Brands by 20.0% during the 3rd quarter. Third Point LLC now owns 2,400,000 shares of the company’s stock worth $517,488,000 after acquiring an additional 400,000 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Constellation Brands by 1,139.7% during the 3rd quarter. Mackenzie Financial Corp now owns 405,600 shares of the company’s stock worth $87,455,000 after acquiring an additional 372,882 shares during the period. 72.83% of the stock is currently owned by institutional investors.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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