Brown Forman (BF.B) Issues FY18 Earnings Guidance

Brown Forman (NYSE:BF.B) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.90-1.98 for the period, compared to the Thomson Reuters consensus estimate of $1.91. The company issued revenue guidance of +6-7% to ~$3.17-3.20 billion, compared to the consensus revenue estimate of $3.19 billion.

Shares of Brown Forman (BF.B) opened at $65.85 on Thursday. Brown Forman has a 52 week low of $43.72 and a 52 week high of $67.98. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.07 and a current ratio of 2.30. The firm has a market cap of $23,828.58, a price-to-earnings ratio of 34.26 and a beta of 0.96.

Brown Forman (NYSE:BF.B) last posted its quarterly earnings results on Wednesday, December 6th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.09. Brown Forman had a net margin of 17.84% and a return on equity of 53.63%. The firm had revenue of $914.00 million for the quarter, compared to the consensus estimate of $870.60 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. equities analysts forecast that Brown Forman will post 1.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 7th will be paid a dividend of $0.198 per share. The ex-dividend date is Wednesday, December 6th. This represents a $0.79 dividend on an annualized basis and a yield of 1.20%. This is an increase from Brown Forman’s previous quarterly dividend of $0.18. Brown Forman’s payout ratio is currently 40.56%.

Several equities research analysts have recently commented on the stock. Pivotal Research restated a buy rating and issued a $62.00 target price on shares of Brown Forman in a research note on Monday, September 4th. Zacks Investment Research upgraded shares of Brown Forman from a hold rating to a buy rating and set a $57.00 target price on the stock in a research note on Thursday, August 31st. Berenberg Bank restated a hold rating and issued a $46.00 target price on shares of Brown Forman in a research note on Monday, September 18th. Cowen restated a hold rating and issued a $52.00 target price on shares of Brown Forman in a research note on Thursday, August 24th. Finally, Societe Generale upgraded shares of Brown Forman from a sell rating to a hold rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Brown Forman currently has a consensus rating of Hold and an average price target of $55.10.

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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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