Companies and Brands

Full Constellation Earnings Preview

Constellation Brands Inc. (NYSE: STZ) is set to report its earnings for the second quarter, Thursday before the market opens. With as much as this stock has pulled back from its highs and with so much interest around the international beer, wine, and liquor demand trends, it seems obvious to think that this earnings report might be given more attention than in prior earnings reports.

Thomson Reuters has estimates of $1.15 in earnings per share and $1.64 billion in revenues. The readings from the same quarter in the previous year were $0.96 in earnings per share and $1.46 billion in revenues. The estimates for the following quarter are $1.09 in earnings per share and $1.49 billion in revenues.

Constellation has seen its shares fall in the weeks ahead of the report. At points the stock hit relative highs but then would recede to levels around the $85 mark.

The 50-day moving average –currently reading at $86.31– has been acting as a magnet for Constellation shares on the way up and on the way down. The 200-day moving average looks as though it could be a point of support with its $82.35 level currently. It turns out that $82 has been a key support level back in August and in June as well.

Stock options are skewed to the call options side, signaling that traders have a more bullish bias at this time. That being said, options trades appear to be braced for a move up to $3.25 to $3.50 in either direction.

Shares were trading down 2.8% at $84.74 with two hours left in regular trading. The company has a consensus price target of $97.50 and a 52-week trading range of $57.09 to $94.77. Constellation Brands has a market cap of $16 billion.

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.