Constellation Brands (NYSE:STZ) Releases Earnings Results, Beats Expectations By $0.68 EPS

Constellation Brands (NYSE:STZ) announced its quarterly earnings results on Wednesday. The company reported $3.09 EPS for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.68, MarketWatch Earnings reports. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Constellation Brands had a net margin of 12.35% and a return on equity of 15.08%. Constellation Brands’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 EPS.

Shares of STZ stock traded up $1.34 on Friday, hitting $230.21. 1,581,813 shares of the company’s stock traded hands, compared to its average volume of 1,745,336. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.16 and a current ratio of 1.85. Constellation Brands has a one year low of $104.28 and a one year high of $240.76. The company’s fifty day simple moving average is $211.90 and its 200 day simple moving average is $189.95. The stock has a market capitalization of $44.61 billion, a price-to-earnings ratio of 41.33, a P/E/G ratio of 3.26 and a beta of 0.94.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 23rd. Investors of record on Tuesday, February 9th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, February 8th. Constellation Brands’s dividend payout ratio is currently 10.20%.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Constellation Brands from $218.00 to $248.00 and gave the stock an “overweight” rating in a research note on Monday, December 28th. Morgan Stanley increased their target price on shares of Constellation Brands from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday. ValuEngine upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Tuesday. Cowen increased their target price on shares of Constellation Brands from $240.00 to $275.00 in a research note on Friday. Finally, TheStreet upgraded shares of Constellation Brands from a “c” rating to a “b” rating in a research note on Thursday, October 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $219.38.

In related news, Director Judy Schmeling sold 5,662 shares of the stock in a transaction on Monday, November 30th. The shares were sold at an average price of $205.51, for a total transaction of $1,163,597.62. Following the transaction, the director now owns 9,938 shares of the company’s stock, valued at approximately $2,042,358.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.77% of the stock is currently owned by company insiders.

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Featured Article: What is the Coverage Ratio?

Earnings History for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.

Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit