Brown-Forman Co. (BF.B) Expected to Post Quarterly Sales of $932.28 Million

Wall Street brokerages expect Brown-Forman Co. (NYSE:BF.B) to report sales of $932.28 million for the current quarter, Zacks reports. Four analysts have provided estimates for Brown-Forman’s earnings. The lowest sales estimate is $921.24 million and the highest is $946.00 million. Brown-Forman posted sales of $914.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The business is scheduled to issue its next earnings report on Wednesday, December 5th.

On average, analysts expect that Brown-Forman will report full year sales of $3.35 billion for the current fiscal year, with estimates ranging from $3.29 billion to $3.39 billion. For the next financial year, analysts anticipate that the business will report sales of $3.53 billion, with estimates ranging from $3.44 billion to $3.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Brown-Forman.

Brown-Forman (NYSE:BF.B) last issued its quarterly earnings results on Wednesday, August 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. The firm had revenue of $766.00 million during the quarter, compared to the consensus estimate of $761.97 million. Brown-Forman had a return on equity of 55.19% and a net margin of 19.34%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS.

A number of analysts have recently issued reports on BF.B shares. Zacks Investment Research downgraded Brown-Forman from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Jefferies Financial Group initiated coverage on Brown-Forman in a report on Friday, September 7th. They set a “hold” rating on the stock. Deutsche Bank raised their price objective on Brown-Forman from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 30th. Cowen raised Brown-Forman from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 17th. Finally, Morgan Stanley raised Brown-Forman from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $57.66.

Shares of BF.B traded up $0.05 during trading hours on Wednesday, reaching $49.74. 806,700 shares of the company’s stock traded hands, compared to its average volume of 1,317,667. The company has a market cap of $24.32 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.82. The company has a current ratio of 3.02, a quick ratio of 1.35 and a debt-to-equity ratio of 1.69. Brown-Forman has a 12 month low of $43.31 and a 12 month high of $59.58.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Thursday, September 6th were issued a dividend of $0.158 per share. The ex-dividend date was Wednesday, September 5th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.27%. Brown-Forman’s dividend payout ratio is 42.57%.

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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