Constellation Brands Inc (STZ) Releases FY18 Earnings Guidance
Constellation Brands Inc (NYSE:STZ) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $8.25-8.40 for the period, compared to the Thomson Reuters consensus estimate of $8.18.
Shares of Constellation Brands Inc (NYSE STZ) traded up 4.01% during midday trading on Thursday, reaching $209.25. 4,920,829 shares of the company’s stock traded hands. The firm has a market cap of $40.87 billion, a PE ratio of 26.24 and a beta of 0.04. The company has a 50 day moving average of $200.44 and a 200 day moving average of $186.43. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $213.40. Constellation Brands also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 8,867 put options on the stock. This is an increase of 667% compared to the typical daily volume of 1,156 put options.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. Constellation Brands’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. On average, equities analysts predict that Constellation Brands Inc will post $8.18 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. Argus raised their price objective on shares of Constellation Brands from $194.00 to $220.00 and gave the company a buy rating in a research note on Wednesday, July 5th. Pivotal Research raised their price objective on shares of Constellation Brands from $250.00 to $265.00 and gave the company a buy rating in a research note on Thursday. Royal Bank Of Canada reaffirmed an outperform rating and issued a $220.00 price objective (up from $205.00) on shares of Constellation Brands in a research note on Friday, June 30th. Goldman Sachs Group, Inc. (The) reaffirmed a conviction-buy rating and issued a $212.00 price objective (up from $198.00) on shares of Constellation Brands in a research note on Friday, June 30th. Finally, BidaskClub lowered shares of Constellation Brands from a strong-buy rating to a buy rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued 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 $206.41.
In related news, VP Thomas Michael Kane sold 4,940 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the sale, the vice president now owns 8,914 shares in the company, valued at $1,722,897.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Eric Klein sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $195.50, for a total transaction of $977,500.00. Following the sale, the executive vice president now owns 45,098 shares of the company’s stock, valued at approximately $8,816,659. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,291 shares of company stock valued at $16,438,975. 15.59% of the stock is currently owned by corporate insiders.
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About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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