Constellation Brands Inc (NYSE:STZ) – Research analysts at SunTrust Banks lowered their Q3 2018 earnings per share (EPS) estimates for Constellation Brands in a note issued to investors on Thursday. SunTrust Banks analyst W. Chappell now anticipates that the company will post earnings of $1.84 per share for the quarter, down from their previous forecast of $1.92. SunTrust Banks currently has a “Buy” rating and a $230.00 target price on the stock. SunTrust Banks also issued estimates for Constellation Brands’ FY2018 earnings at $8.38 EPS, Q1 2019 earnings at $2.43 EPS, Q2 2019 earnings at $2.69 EPS, Q3 2019 earnings at $2.21 EPS and FY2019 earnings at $9.34 EPS.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.30. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a return on equity of 22.88% and a net margin of 22.04%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. ILLEGAL ACTIVITY NOTICE: “Q3 2018 EPS Estimates for Constellation Brands Inc Lowered by Analyst (STZ)” was first posted by BBNS and is the property of of BBNS. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://baseballnewssource.com/markets/q3-2018-eps-estimates-for-constellation-brands-inc-lowered-by-analyst-stz/1700298.html.
Several other equities analysts also recently issued reports on the stock. J P Morgan Chase & Co restated an “overweight” rating and issued a $237.00 price objective (up previously from $220.00) on shares of Constellation Brands in a research note on Friday. Cowen and Company restated an “outperform” rating and issued a $243.00 price objective (up previously from $230.00) on shares of Constellation Brands in a research note on Friday. Evercore ISI restated an “outperform” rating and issued a $235.00 price objective (up previously from $230.00) on shares of Constellation Brands in a research note on Friday. Morgan Stanley upped their price objective on shares of Constellation Brands from $218.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Royal Bank Of Canada upped their price objective on shares of Constellation Brands from $222.00 to $226.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $213.84.
Constellation Brands (STZ) opened at 210.11 on Monday. The company has a 50-day moving average price of $201.11 and a 200-day moving average price of $186.94. The stock has a market cap of $41.10 billion, a price-to-earnings ratio of 24.14 and a beta of 0.04. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $213.40.
A number of hedge funds and other institutional investors have recently bought and sold shares of STZ. Schroder Investment Management Group purchased a new position in Constellation Brands during the first quarter worth about $306,000. Neuberger Berman Group LLC raised its holdings in Constellation Brands by 3.4% during the first quarter. Neuberger Berman Group LLC now owns 39,775 shares of the company’s stock worth $6,446,000 after purchasing an additional 1,306 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in Constellation Brands by 55.5% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 51,729 shares of the company’s stock worth $8,384,000 after purchasing an additional 18,462 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Constellation Brands by 203.6% during the first quarter. Alliancebernstein L.P. now owns 894,745 shares of the company’s stock worth $145,011,000 after purchasing an additional 600,001 shares in the last quarter. Finally, Boston Private Wealth LLC raised its holdings in Constellation Brands by 9.4% during the first quarter. Boston Private Wealth LLC now owns 7,066 shares of the company’s stock worth $1,145,000 after purchasing an additional 607 shares in the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP David Eric Klein sold 5,000 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $195.50, for a total transaction of $977,500.00. Following the completion of the transaction, the executive vice president now directly owns 45,098 shares of the company’s stock, valued at $8,816,659. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William F. Hackett sold 12,517 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Insiders have sold 79,351 shares of company stock valued at $15,484,172 over the last three months. 15.59% of the stock is currently owned by corporate insiders.
Constellation Brands Company Profile
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.
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