Constellation Brands (NYSE:STZ) issued its quarterly earnings data on Thursday. The company reported $2.76 EPS for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.25, MarketWatch Earnings reports. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.18 billion. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.91 EPS.
Shares of Constellation Brands stock opened at $184.61 on Friday. Constellation Brands has a 12 month low of $104.28 and a 12 month high of $208.55. The company has a quick ratio of 1.18, a current ratio of 1.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $35.60 billion, a PE ratio of 1,025.67, a price-to-earnings-growth ratio of 2.07 and a beta of 0.97. The business has a fifty day simple moving average of $184.86 and a 200 day simple moving average of $170.53.
A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Constellation Brands from $224.00 to $238.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Citigroup raised their target price on Constellation Brands from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. HSBC lifted their price objective on Constellation Brands from $147.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Morgan Stanley lifted their price objective on Constellation Brands from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $216.00 price objective on shares of Constellation Brands in a report on Thursday, June 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $195.50.
In other Constellation Brands news, major shareholder Richard Sands sold 638,407 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $180.12, for a total value of $114,989,868.84. Following the completion of the transaction, the insider now directly owns 249,763 shares of the company’s stock, valued at $44,987,311.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Robert Sands sold 90,184 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $181.20, for a total value of $16,341,340.80. Following the completion of the transaction, the chairman now directly owns 644,719 shares of the company’s stock, valued at $116,823,082.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,052,364 shares of company stock valued at $189,856,440. Insiders own 15.77% of the company’s stock.
Constellation Brands Company Profile
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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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