According to Zacks, “Brown-Forman started fiscal 2017 on a soft note as earnings for first-quarter missed estimates and fell year over year. While top-line growth was hurt by the persistence of currency headwinds, tough economic conditions in emerging markets and the impact of the sale of Southern Comfort and Tuaca, underlying sales gained from the company's strong portfolio of premium American whiskey brands, along with its Jack Daniel’s trademark. All these led to a downtrend in estimates. Though Brown-Forman anticipates the perils of currency headwinds and unstable emerging market conditions along with an uncertain global economic and geopolitical environment to linger, it remains confident of persistent growth in underlying net sales and operating income in fiscal 2017. The company expects to grow on the back of strong demand for its authentic American whiskey brands worldwide, consumer interest in flavored whiskey and a growing trend in premium spirits.”
Several other equities research analysts have also recently issued reports on BF.B. Credit Suisse Group AG started coverage on Brown-Forman in a research note on Thursday, September 15th. They set an outperform rating for the company. Bank of America Corp. cut Brown-Forman from a neutral rating to an underperform rating in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $102.20.
Brown-Forman (NYSE:BF.B) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by $0.01. The company earned $856 million during the quarter, compared to analysts’ expectations of $875.50 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 1st were issued a $0.17 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of Infinity.
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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