Shares of Brown Forman Corporation (NYSE:BF.B) rose 6.2% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $67.98 and last traded at $65.85. Approximately 1,495,550 shares were traded during trading, an increase of 63% from the average daily volume of 920,260 shares. The stock had previously closed at $62.01.
The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.09. The company had revenue of $914.00 million for the quarter, compared to the consensus estimate of $870.60 million. Brown Forman had a net margin of 17.84% and a return on equity of 53.63%. Brown Forman’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 7th will be issued a $0.198 dividend. This is an increase from Brown Forman’s previous quarterly dividend of $0.18. This represents a $0.79 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, December 6th. Brown Forman’s payout ratio is currently 40.33%.
The company has a debt-to-equity ratio of 1.21, a current ratio of 2.30 and a quick ratio of 1.07. The stock has a market capitalization of $23,910.00, a P/E ratio of 34.30 and a beta of 0.95.
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Brown Forman Company Profile
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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