Wall Street brokerages forecast that Constellation Brands, Inc. (NYSE:STZ) will post $2.33 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Constellation Brands’ earnings, with estimates ranging from $2.32 billion to $2.35 billion. Constellation Brands posted sales of $2.30 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.3%. The company is scheduled to report its next earnings results on Thursday, October 3rd.
According to Zacks, analysts expect that Constellation Brands will report full year sales of $7.90 billion for the current year, with estimates ranging from $7.86 billion to $7.96 billion. For the next year, analysts expect that the firm will report sales of $8.03 billion, with estimates ranging from $7.84 billion to $8.64 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Constellation Brands.
Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.15. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the business earned $2.20 EPS. The firm’s revenue was up 11.5% on a year-over-year basis.
In related news, CMO James A. Jr. Sabia sold 4,275 shares of Constellation Brands stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total transaction of $832,342.50. Following the completion of the transaction, the chief marketing officer now directly owns 43,494 shares of the company’s stock, valued at approximately $8,468,281.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the transaction, the director now directly owns 27,630 shares of the company’s stock, valued at $5,452,780.50. The disclosure for this sale can be found here. Company insiders own 15.86% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wisconsin Capital Management LLC raised its stake in shares of Constellation Brands by 0.3% in the first quarter. Wisconsin Capital Management LLC now owns 15,044 shares of the company’s stock worth $2,638,000 after acquiring an additional 50 shares during the last quarter. Trustcore Financial Services LLC raised its stake in shares of Constellation Brands by 6.7% in the first quarter. Trustcore Financial Services LLC now owns 814 shares of the company’s stock worth $143,000 after acquiring an additional 51 shares during the last quarter. HCR Wealth Advisors raised its stake in shares of Constellation Brands by 0.8% in the first quarter. HCR Wealth Advisors now owns 6,187 shares of the company’s stock worth $993,000 after acquiring an additional 52 shares during the last quarter. Berman Capital Advisors LLC grew its position in shares of Constellation Brands by 31.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 219 shares of the company’s stock worth $43,000 after buying an additional 53 shares during the period. Finally, Sky Investment Group LLC grew its position in shares of Constellation Brands by 0.6% during the 2nd quarter. Sky Investment Group LLC now owns 9,618 shares of the company’s stock worth $1,894,000 after buying an additional 55 shares during the period. 70.61% of the stock is owned by institutional investors.
Shares of Constellation Brands stock traded down $1.19 during trading on Thursday, hitting $201.66. 809,130 shares of the company’s stock traded hands, compared to its average volume of 1,977,895. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.22 and a quick ratio of 0.71. The firm’s fifty day moving average price is $197.96 and its 200 day moving average price is $189.05. Constellation Brands has a twelve month low of $150.37 and a twelve month high of $228.91. The company has a market cap of $38.66 billion, a PE ratio of 21.73, a PEG ratio of 3.02 and a beta of 0.71.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, August 12th. Constellation Brands’s dividend payout ratio is currently 10.02%.
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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