Companies and Brands
What Analysts Are Saying About Constellation Brands After Earnings
Published:
Last Updated:
Constellation Brands Inc. (NYSE: STZ) reported its most recent quarterly results on Wednesday and while things immediately took a turn for the worse, the outlook doesn’t appear as bad as once thought, at least according to the analysts.
24/7 Wall St. has included some highlights from the report, as well as what analysts said about the stock after the fact.
The company reported that it had $2.37 in earnings per share (EPS) and $1.97 billion in revenue, compared with consensus estimates of $2.06 in EPS and revenue of $1.91 billion. The same period of last year reportedly had EPS of $2.00 on $1.8 billion in revenue.
Constellation Brands also noted that it completed an additional $4 billion investment in Canopy Growth in early November.
The board of directors declared a quarterly cash dividend of $0.74 per share of Class A shares and $0.67 per share of Class B shares, payable on February 26, 2019, to stockholders of record as of the close of business on February 12.
Looking ahead to the fiscal full year, the company expects to see EPS in the range of $9.20 to $9.30, with operating cash flow of $2.35 billion to $2.55 billion. Consensus estimates call for $9.43 in EPS and $8.14 billion in revenue.
Here’s what analysts said following the report:
Shares of Constellation Brands were last seen up about 6% at $159.90, in a 52-week range of $150.37 to $236.62. The consensus analyst price target is $238.87.
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.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.