Equities research analysts expect Constellation Brands, Inc. (NYSE:STZ) to announce sales of $1.73 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Constellation Brands’ earnings. The lowest sales estimate is $1.72 billion and the highest is $1.75 billion. Constellation Brands reported sales of $1.77 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The company is expected to announce its next quarterly earnings report on Thursday, April 4th.
On average, analysts expect that Constellation Brands will report full-year sales of $8.05 billion for the current fiscal 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 $8.54 billion, with estimates ranging from $8.43 billion to $8.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Constellation Brands.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, January 9th. The company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.04 by $0.33. Constellation Brands had a net margin of 35.27% and a return on equity of 17.62%. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company earned $2.00 EPS. Constellation Brands’s revenue was up 9.5% on a year-over-year basis.
In other Constellation Brands news, Director Barry A. Fromberg sold 1,500 shares of Constellation Brands stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $174.72, for a total value of $262,080.00. Following the transaction, the director now owns 18,240 shares of the company’s stock, valued at $3,186,892.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barry A. Fromberg sold 810 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $173.05, for a total transaction of $140,170.50. Following the completion of the sale, 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. Insiders own 15.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Truewealth LLC lifted its position in shares of Constellation Brands by 467.9% in the fourth quarter. Truewealth LLC now owns 159 shares of the company’s stock worth $26,000 after purchasing an additional 131 shares in the last quarter. City Holding Co. bought a new stake in Constellation Brands during the fourth quarter worth $31,000. Ledyard National Bank bought a new stake in Constellation Brands during the fourth quarter worth $31,000. Quantamental Technologies LLC bought a new stake in Constellation Brands during the fourth quarter worth $32,000. Finally, We Are One Seven LLC bought a new stake in Constellation Brands during the fourth quarter worth $32,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:STZ traded down $1.33 during trading on Thursday, hitting $165.65. 5,426,311 shares of the company’s stock were exchanged, compared to its average volume of 3,212,390. Constellation Brands has a 1-year low of $150.37 and a 1-year high of $236.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.08 and a quick ratio of 0.43. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 2.09 and a beta of 0.48.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Monday, February 11th. Constellation Brands’s payout ratio is currently 10.67%.
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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