Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Constellation Brands (STZ) Stock Price
Media coverage about Constellation Brands (NYSE:STZ) has been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Constellation Brands earned a news sentiment score of 0.20 on Accern’s scale. Accern also gave media coverage about the company an impact score of 47.3175148631514 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news headlines that may have effected Accern’s analysis:
- Constellation Brands still seen as undervalue (seekingalpha.com)
- Head-To-Head Survey: Constellation Brands (STZ) & Coca-Cola Amatil (CCLAY) (americanbankingnews.com)
- Constellation Brands (STZ) Receives Buy Rating from Royal Bank of Canada (americanbankingnews.com)
- Constellation Brands (STZ) Given Buy Rating at Cowen (americanbankingnews.com)
- Constellation Brands (STZ) Expected to Announce Quarterly Sales of $2.05 Billion (americanbankingnews.com)
A number of analysts recently commented on the stock. Pivotal Research lifted their target price on shares of Constellation Brands from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, March 29th. Royal Bank of Canada reissued a “buy” rating and set a $280.00 price target on shares of Constellation Brands in a research report on Monday, April 2nd. Evercore ISI raised their price target on shares of Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Deutsche Bank raised their price target on shares of Constellation Brands from $253.00 to $256.00 and gave the stock a “buy” rating in a research report on Friday, March 23rd. Finally, ValuEngine raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Constellation Brands has an average rating of “Buy” and a consensus target price of $245.77.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, March 29th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.16. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. Constellation Brands had a net margin of 27.85% and a return on equity of 22.28%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. sell-side analysts anticipate that Constellation Brands will post 9.68 earnings per share for the current fiscal year.
Constellation Brands declared that its board has authorized a stock repurchase plan on Friday, January 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Thursday, May 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.30%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, May 9th. Constellation Brands’s payout ratio is 10.67%.
In other news, Director Barry A. Fromberg sold 2,005 shares of Constellation Brands stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total transaction of $441,942.10. Following the completion of the transaction, the director now directly owns 20,790 shares of the company’s stock, valued at approximately $4,582,531.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Barry A. Fromberg sold 3,000 shares of Constellation Brands stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $229.22, for a total transaction of $687,660.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,905 shares of company stock valued at $5,218,499. Insiders own 15.59% of the company’s stock.
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About Constellation Brands
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 offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.
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