Constellation Brands (NYSE:STZ) Issues Earnings Results

Constellation Brands (NYSE:STZ) announced its earnings results on Thursday. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24, Briefing.com reports. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Constellation Brands updated its FY25 guidance to $13.60-13.80 EPS.

Constellation Brands Stock Up 1.2 %

Shares of NYSE STZ traded up $3.02 during trading on Friday, reaching $246.67. 1,351,402 shares of the stock were exchanged, compared to its average volume of 1,183,067. Constellation Brands has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a market capitalization of $45.13 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $246.53 and its 200 day moving average price is $253.39.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STZ. Barclays raised their target price on shares of Constellation Brands from $295.00 to $309.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday. UBS Group lowered their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.75.

Insiders Place Their Bets

In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 in the last quarter. 12.19% of the stock is owned by corporate insiders.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.