Brown-Forman (NYSE:BF.B) Releases FY20 Earnings Guidance

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Brown-Forman (NYSE:BF.B) issued an update on its FY20 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.75-1.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.79. The company issued revenue guidance of +5-7% to $3.49-3.56 billion, compared to the consensus revenue estimate of $3.48 billion.

Several equities research analysts have commented on the company. MKM Partners initiated coverage on Brown-Forman in a research report on Thursday, September 19th. They issued a neutral rating and a $59.00 price objective on the stock. Pivotal Research restated a buy rating and set a $65.00 price target on shares of Brown-Forman in a research report on Thursday, August 29th. Cfra cut shares of Brown-Forman from a hold rating to a sell rating in a report on Friday, November 15th. Redburn Partners downgraded shares of Brown-Forman from a buy rating to a neutral rating in a research report on Friday, October 11th. Finally, Barclays set a $66.00 target price on shares of Brown-Forman and gave the stock a hold rating in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $57.13.

Shares of BF.B opened at $67.84 on Thursday. Brown-Forman has a 52-week low of $44.57 and a 52-week high of $68.99. The company has a quick ratio of 1.42, a current ratio of 3.27 and a debt-to-equity ratio of 1.36. The stock has a fifty day simple moving average of $65.48 and a two-hundred day simple moving average of $59.45. The company has a market capitalization of $31.83 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 5.04 and a beta of 0.65.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 5th will be given a dividend of $0.174 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, December 4th. This is a positive change from Brown-Forman’s previous quarterly dividend of $0.17. Brown-Forman’s payout ratio is presently 38.15%.

About Brown-Forman

Brown-Forman Corporation manufactures, bottles, imports, exports, markets, and sells various alcoholic beverages worldwide. It provides spirits, wines, ready-to-drink cocktails, whiskeys, vodkas, tequilas, champagnes, brandy, and liqueurs. The company offers its products primarily under the Jack Daniel's, Gentleman Jack, Woodford Reserve, Korbel, Finlandia, el Jimador, Herradura, Sonoma-Cutrer, Canadian Mist, GlenDronach, BenRiach, Glenglassaugh, Chambord, Old Forester, Early Times, Pepe Lopez, Antiguo, Slane Irish, and Coopers' Craft brands.

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Earnings History and Estimates for Brown-Forman (NYSE:BF.B)

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