Brokerages expect Constellation Brands, Inc. (NYSE:STZ) to announce sales of $1.73 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Constellation Brands’ earnings, with the lowest sales estimate coming in at $1.72 billion and the highest estimate coming in at $1.75 billion. Constellation Brands posted sales of $1.77 billion in the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 4th.
According to Zacks, analysts expect that Constellation Brands will report full-year sales of $8.05 billion for the current financial year, with estimates ranging from $8.04 billion to $8.07 billion. For the next fiscal year, analysts expect that the business will report sales of $8.48 billion, with estimates ranging from $8.23 billion to $8.60 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.33. Constellation Brands had a return on equity of 17.62% and a net margin of 35.27%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm earned $2.00 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year.
Shares of STZ stock traded down $0.16 during trading hours on Friday, reaching $170.45. The company had a trading volume of 2,682,525 shares, compared to its average volume of 2,735,572. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.43 and a current ratio of 1.08. Constellation Brands has a twelve month low of $150.37 and a twelve month high of $236.62. The firm has a market cap of $32.70 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.99 and a beta of 0.45.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Monday, February 11th. Constellation Brands’s dividend payout ratio is presently 10.67%.
In other Constellation Brands news, Director Barry A. Fromberg sold 1,500 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $174.72, for a total transaction of $262,080.00. Following the transaction, the director now owns 18,240 shares of the company’s stock, valued at approximately $3,186,892.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Barry A. Fromberg sold 810 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $173.05, for a total value of $140,170.50. Following the transaction, the director now directly owns 20,550 shares in the company, valued at approximately $3,556,177.50. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in STZ. BlackRock Inc. lifted its holdings in shares of Constellation Brands by 0.6% in the 3rd quarter. BlackRock Inc. now owns 12,057,795 shares of the company’s stock worth $2,599,903,000 after purchasing an additional 70,095 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,013,148 shares of the company’s stock worth $2,590,276,000 after purchasing an additional 30,782 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Constellation Brands by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock worth $2,590,276,000 after purchasing an additional 30,782 shares during the last quarter. Capital World Investors lifted its holdings in shares of Constellation Brands by 3.4% in the 3rd quarter. Capital World Investors now owns 4,054,750 shares of the company’s stock worth $874,285,000 after purchasing an additional 133,500 shares during the last quarter. Finally, Third Point LLC lifted its holdings in shares of Constellation Brands by 20.0% in the 3rd quarter. Third Point LLC now owns 2,400,000 shares of the company’s stock worth $517,488,000 after purchasing an additional 400,000 shares during the last quarter. 72.57% of the stock is currently owned by institutional investors.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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