Constellation Brands Inc. (NYSE:STZ) – Research analysts at SunTrust Banks dropped their Q3 2017 EPS estimates for Constellation Brands in a research note issued to investors on Wednesday. SunTrust Banks analyst W. Chappell now anticipates that the firm will post earnings of $1.69 per share for the quarter, down from their prior forecast of $1.73. SunTrust Banks also issued estimates for Constellation Brands’ Q4 2017 earnings at $1.43 EPS, FY2017 earnings at $6.41 EPS, Q2 2018 earnings at $2.09 EPS, Q3 2018 earnings at $1.81 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $7.29 EPS and FY2019 earnings at $8.35 EPS.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.65 by $0.12. The company had revenue of $2.02 billion for the quarter. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 earnings per share.
Several other analysts have also commented on the stock. Morgan Stanley restated an “overweight” rating and set a $194.00 price target (up previously from $191.00) on shares of Constellation Brands in a research report on Saturday. Bank of America Corp. restated a “buy” rating and set a $195.00 price target on shares of Constellation Brands in a research report on Thursday. Pivotal Research restated a “buy” rating and set a $200.00 price target on shares of Constellation Brands in a research report on Thursday. RBC Capital Markets restated an “outperform” rating and set a $181.00 price target on shares of Constellation Brands in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research report on Friday, September 16th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands has a consensus rating of “Buy” and an average target price of $180.04.
Constellation Brands (NYSE:STZ) opened at 168.84 on Friday. The company’s 50-day moving average is $165.62 and its 200 day moving average is $160.44. The company has a market capitalization of $33.85 billion, a P/E ratio of 30.42 and a beta of 0.63. Constellation Brands has a one year low of $130.23 and a one year high of $173.55.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, November 4th. Constellation Brands’s dividend payout ratio (DPR) is presently 27.49%.
In other Constellation Brands news, VP Thomas Michael Kane sold 7,000 shares of Constellation Brands stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the transaction, the vice president now directly owns 8,764 shares of the company’s stock, valued at $1,430,810.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas J. Mullin sold 9,516 shares of Constellation Brands stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the transaction, the vice president now directly owns 88,602 shares in the company, valued at $14,745,144.84. The disclosure for this sale can be found here. Company insiders own 10.63% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA increased its position in shares of Constellation Brands by 505.7% in the first quarter. Glenmede Trust Co. NA now owns 5,300 shares of the company’s stock worth $800,000 after buying an additional 4,425 shares during the period. Prudential Financial Inc. increased its position in shares of Constellation Brands by 3.5% in the first quarter. Prudential Financial Inc. now owns 223,451 shares of the company’s stock worth $33,762,000 after buying an additional 7,580 shares during the period. BlackRock Inc. increased its position in shares of Constellation Brands by 5.2% in the first quarter. BlackRock Inc. now owns 306,667 shares of the company’s stock worth $46,334,000 after buying an additional 15,043 shares during the period. BlackRock Group LTD increased its position in shares of Constellation Brands by 2.7% in the first quarter. BlackRock Group LTD now owns 1,342,421 shares of the company’s stock worth $202,825,000 after buying an additional 35,355 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Constellation Brands during the first quarter worth approximately $165,000. 75.05% of the stock is currently owned by institutional investors.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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