Constellation Brands (NYSE:STZ) Posts Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Constellation Brands (NYSE:STZ) posted its earnings results on Wednesday. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25, MarketWatch Earnings reports. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.18 billion. Constellation Brands had a net margin of 0.62% and a return on equity of 15.10%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.91 earnings per share.

Constellation Brands stock opened at $185.15 on Friday. Constellation Brands has a one year low of $104.28 and a one year high of $208.55. The business has a fifty day moving average price of $186.04 and a 200-day moving average price of $172.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.94 and a quick ratio of 1.18. The firm has a market capitalization of $35.70 billion, a P/E ratio of 1,028.67, a PEG ratio of 2.07 and a beta of 0.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, November 5th. Constellation Brands’s payout ratio is currently 10.20%.

Several equities research analysts have recently commented on STZ shares. Deutsche Bank boosted their target price on shares of Constellation Brands from $185.00 to $196.00 and gave the stock a “hold” rating in a research report on Friday, October 2nd. HSBC boosted their price target on shares of Constellation Brands from $147.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $230.00 target price on the stock in a research note on Thursday, July 9th. Credit Suisse Group boosted their target price on shares of Constellation Brands from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Constellation Brands from $216.00 to $243.00 and gave the company an “outperform” rating in a research note on Friday, October 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $198.00.

In related news, major shareholder Richard Sands sold 638,407 shares of Constellation Brands stock in a transaction on Friday, July 24th. The stock was sold at an average price of $180.12, for a total transaction of $114,989,868.84. Following the completion of the sale, the insider now owns 249,763 shares of the company’s stock, valued at $44,987,311.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert Sands sold 172,369 shares of Constellation Brands stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $180.40, for a total value of $31,095,367.60. Following the sale, the chairman now directly owns 616,148 shares of the company’s stock, valued at approximately $111,153,099.20. The disclosure for this sale can be found here. Insiders sold 1,052,364 shares of company stock valued at $189,856,440 over the last ninety days. Corporate insiders own 15.77% of the company’s stock.

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 Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Earnings History for Constellation Brands (NYSE:STZ)

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