Constellation Brands (NYSE:STZ – Get Rating) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of $11.70-$12.00 for the period, compared to the consensus earnings per share estimate of $11.68. The company issued revenue guidance of -.
Constellation Brands Trading Up 1.4 %
NYSE STZ opened at $224.64 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.18 and a quick ratio of 0.63. The stock’s 50-day moving average is $222.64 and its 200-day moving average is $230.97. Constellation Brands has a one year low of $208.12 and a one year high of $261.52. The firm has a market cap of $41.46 billion, a P/E ratio of -440.46, a P/E/G ratio of 2.08 and a beta of 1.03.
Constellation Brands (NYSE:STZ – Get Rating) last announced its quarterly earnings results on Thursday, April 6th. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.12. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.02 billion. Constellation Brands had a negative net margin of 0.70% and a positive return on equity of 20.48%. The business’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.37 earnings per share. Sell-side analysts anticipate that Constellation Brands will post 11.77 earnings per share for the current fiscal year.
Constellation Brands Increases Dividend
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. OTR Global raised shares of Constellation Brands to a positive rating in a research report on Thursday, December 15th. Credit Suisse Group dropped their target price on Constellation Brands from $260.00 to $250.00 and set an outperform rating on the stock in a report on Friday, January 6th. TheStreet downgraded Constellation Brands from a b rating to a c+ rating in a research note on Wednesday, March 1st. Evercore ISI upped their price objective on Constellation Brands from $250.00 to $260.00 and gave the stock an outperform rating in a research note on Tuesday, January 31st. Finally, Cowen downgraded Constellation Brands from an outperform rating to a market perform rating and cut their price objective for the company from $275.00 to $200.00 in a report on Friday, January 6th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Constellation Brands currently has a consensus rating of Moderate Buy and a consensus target price of $249.76.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in STZ. Resurgent Financial Advisors LLC acquired a new stake in Constellation Brands during the fourth quarter worth approximately $34,000. Worth Asset Management LLC bought a new stake in Constellation Brands during the first quarter worth about $98,000. Coppell Advisory Solutions Corp. bought a new stake in Constellation Brands during the fourth quarter worth about $174,000. EP Wealth Advisors LLC acquired a new stake in Constellation Brands during the first quarter worth about $200,000. Finally, Columbia Trust Co 01012016 bought a new position in Constellation Brands in the 4th quarter valued at about $200,000. 84.87% of the stock is owned by institutional investors.
About Constellation Brands
Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.
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