Constellation Brands, Inc. (STZ) Shares Gap Up After Earnings Beat

Constellation Brands, Inc. (NYSE:STZ)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $174.14, but opened at $171.77. Constellation Brands shares last traded at $171.76, with a volume of 1,490,084 shares trading hands.

The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. Constellation Brands had a net margin of 16.65% and a return on equity of 19.07%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company posted $1.19 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, May 8th. This is an increase from Constellation Brands’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a yield of 1.17%. Constellation Brands’s dividend payout ratio (DPR) is currently 24.73%.

Several research analysts have issued reports on the stock. Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $158.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 5th. Credit Suisse Group AG set a $182.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a research note on Saturday, April 8th. JPMorgan Chase & Co. initiated coverage on shares of Constellation Brands in a research note on Tuesday, March 21st. They issued an “overweight” rating and a $183.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $189.00 price objective on shares of Constellation Brands in a research note on Sunday, January 8th. Finally, Goldman Sachs Group Inc reiterated an “overweight” rating and issued a $189.00 price objective (up previously from $187.00) on shares of Constellation Brands in a research note on Sunday, January 8th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $182.86.

In other news, EVP David Eric Klein sold 14,350 shares of the company’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $172.24, for a total transaction of $2,471,644.00. Following the sale, the executive vice president now directly owns 50,572 shares in the company, valued at $8,710,521.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas J. Mullin sold 39,854 shares of the company’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $169.55, for a total value of $6,757,245.70. Following the sale, the vice president now owns 48,900 shares in the company, valued at $8,290,995. The disclosure for this sale can be found here. Insiders sold a total of 61,244 shares of company stock worth $10,445,048 over the last three months. 10.63% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Truepoint Inc. boosted its stake in shares of Constellation Brands by 0.4% in the third quarter. Truepoint Inc. now owns 1,350 shares of the company’s stock valued at $225,000 after buying an additional 6 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares in the last quarter. Atria Investments LLC boosted its stake in shares of Constellation Brands by 1.6% in the first quarter. Atria Investments LLC now owns 1,702 shares of the company’s stock valued at $276,000 after buying an additional 26 shares in the last quarter. Usca Ria LLC boosted its stake in shares of Constellation Brands by 0.8% in the first quarter. Usca Ria LLC now owns 6,140 shares of the company’s stock valued at $995,000 after buying an additional 50 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Constellation Brands by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,188 shares of the company’s stock valued at $1,562,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 75.54% of the company’s stock.

The firm’s 50 day moving average is $168.00 and its 200 day moving average is $158.74. The company has a market cap of $34.64 billion, a PE ratio of 23.56 and a beta of 0.52.

COPYRIGHT VIOLATION WARNING: This story was originally published by BBNS and is the property of of BBNS. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://baseballnewssource.com/markets/constellation-brands-inc-stz-shares-gap-up-following-strong-earnings-updated-updated/580669.html.

About Constellation Brands

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

5 Day Chart for NYSE:STZ

Receive News & Ratings for Constellation Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Zack Greinke Having Much Better Results This Season
Zack Greinke Having Much Better Results This Season
David Price and Red Sox to Meet Following Rehab Start
David Price and Red Sox to Meet Following Rehab Start
Lack of Offense Leading to Mediocrity for Boston Red Sox
Lack of Offense Leading to Mediocrity for Boston Red Sox
MLB and Facebook Announce Live Streaming for Games
MLB and Facebook Announce Live Streaming for Games
Can Anyway Stop the Houston Astros?
Can Anyway Stop the Houston Astros?
Kevin Pillar Turns from Defense to Offense
Kevin Pillar Turns from Defense to Offense


Leave a Reply

 
© 2006-2017 BBNS.