Constellation Brands Inc. (STZ) Updates FY17 Earnings Guidance
Constellation Brands Inc. (NYSE:STZ) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $6.30-6.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.30.
A number of equities analysts have recently weighed in on the stock. Bank of America Corp. reissued a buy rating and issued a $185.00 price objective on shares of Constellation Brands in a research report on Friday, September 30th. RBC Capital Markets set a $181.00 price objective on shares of Constellation Brands and gave the company a buy rating in a research report on Wednesday, September 28th. Zacks Investment Research raised shares of Constellation Brands from a hold rating to a buy rating and set a $186.00 price objective for the company in a research report on Friday, September 16th. Credit Suisse Group AG began coverage on shares of Constellation Brands in a report on Thursday, September 15th. They issued a neutral rating and a $178.00 target price for the company. Finally, Morgan Stanley restated a buy rating on shares of Constellation Brands in a report on Thursday, September 15th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $175.27.
Shares of Constellation Brands Inc. (NYSE:STZ) opened at 165.85 on Wednesday. The company has a 50-day moving average of $165.24 and a 200 day moving average of $160.15. Constellation Brands Inc. has a 12-month low of $130.23 and a 12-month high of $168.68. The firm has a market capitalization of $33.25 billion, a PE ratio of 29.88 and a beta of 0.63.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 earnings per share. On average, analysts predict that Constellation Brands Inc. will post $6.30 EPS for the current year.
In other Constellation Brands news, VP Thomas Michael Kane sold 7,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the transaction, the vice president now owns 8,764 shares in the company, valued at $1,430,810.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William F. Hackett sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $164.67, for a total value of $1,317,360.00. Following the transaction, the executive vice president now owns 54,934 shares in the company, valued at approximately $9,045,981.78. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Fiera Capital Corp bought a new position in shares of Constellation Brands during the second quarter valued at approximately $2,260,000. Point72 Asia Hong Kong Ltd bought a new position in shares of Constellation Brands during the second quarter valued at approximately $1,036,000. Highbridge Capital Management LLC bought a new position in shares of Constellation Brands during the second quarter valued at approximately $711,000. AQR Capital Management LLC increased its position in shares of Constellation Brands by 5.9% in the second quarter. AQR Capital Management LLC now owns 471,017 shares of the company’s stock valued at $77,906,000 after buying an additional 26,054 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in shares of Constellation Brands during the second quarter valued at approximately $1,250,000. Institutional investors own 75.05% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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