Constellation Brands (NYSE: STZ – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, June 30th. Analysts expect Constellation Brands to post earnings of $ 2.52 per share for the quarter. Constellation Brands has set its FY 2023 guidance at $ 11.200- $ 11.500 EPS and its FY23 guidance at $ 11.20-11.50 EPS.Persons interested in listening to the company earnings conference call can do so using this link.
Constellation Brands (NYSE: STZ – Get Rating) last announced its earnings results on Thursday, April 7th. The company reported $ 2.37 EPS for the quarter, beating analysts’ consensus estimates of $ 2.15 by $ 0.22. The firm had revenue of $ 2.10 billion for the quarter, compared to analysts’ expectations of $ 2.02 billion. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. The company quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $ 1.82 EPS. On average, analysts expect Constellation Brands to post $ 11 EPS for the current fiscal year and $ 13 EPS for the next fiscal year.
Shares of Constellation Brands stock opened at $ 247.42 on Tuesday. Constellation Brands has a 1 year low of $ 207.35 and a 1 year high of $ 261.52. The firm has a market cap of $ 46.57 billion, a price-to-earnings ratio of -1,374.56, a PEG ratio of 2.06 and a beta of 1.06. The company has a 50-day moving average of $ 243.59 and a 200 day moving average of $ 237.73. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 0.65.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th were issued a dividend of $ 0.80 per share. This represents a $ 3.20 annualized dividend and a dividend yield of 1.29%. This is a positive change from Constellation Brands’s previous quarterly dividend of $ 0.14. The ex-dividend date was Wednesday, May 4th. Constellation Brands’s dividend payout ratio (DPR) is presently -516.67%.
STZ has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Constellation Brands from $ 250.00 to $ 248.00 and set a “hold” rating for the company in a research note on Tuesday, June 21st. StockNews.com upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Credit Suisse Group raised their price objective on shares of Constellation Brands from $ 278.00 to $ 295.00 and gave the company an “outperform” rating in a research note on Friday, April 8th. UBS Group dropped their target price on shares of Constellation Brands from $ 285.00 to $ 270.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. Finally, Barclays reduced their price target on shares of Constellation Brands from $ 283.00 to $ 272.00 and set an “overweight” rating for the company in a research report on Friday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $ 268.93.
In other news, EVP Thomas Michael Kane sold 1,601 shares of Constellation Brands stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $ 249.34, for a total transaction of $ 399,193.34. Following the transaction, the executive vice president now directly owns 4,692 shares of the company stock, valued at approximately $ 1,169,903.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 3,787 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $ 254.00, for a total transaction of $ 961,898.00. Following the completion of the sale, the chief executive officer now directly owns 14,798 shares of the company stock, valued at $ 3,758,692. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,822 shares of company stock valued at $ 6,451,256. Insiders own 16.19% of the company stock.
A number of institutional investors have recently modified their holdings of STZ. Vanguard Group Inc. raised its holdings in Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company stock valued at $ 2,902,327,000 after acquiring an additional 313,344 shares during the period. Capital International Investors grew its position in shares of Constellation Brands by 17.9% during the first quarter. Capital International Investors now owns 1,172,206 shares of the company stock worth $ 270,000,000 after purchasing an additional 178,034 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Constellation Brands by 13.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,028,631 shares of the company stock valued at $ 236,914,000 after purchasing an additional 122,621 shares during the period. Eaton Vance Management lifted its holdings in Constellation Brands by 29.6% in the 1st quarter. Eaton Vance Management now owns 420,098 shares of the company stock worth $ 96,756,000 after purchasing an additional 95,983 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in Constellation Brands by 1,111.4% in the 1st quarter. Cibc World Markets Corp now owns 70,925 shares of the company stock worth $ 16,335,000 after purchasing an additional 65,070 shares during the period. 74.99% of the stock is owned by institutional investors.
About Constellation Brands: (Get Rating)
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells 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.
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