Equities Analysts Issue Forecasts for Constellation Brands, Inc.’s Q1 2023 Earnings (NYSE:STZ)

Constellation Brands, Inc. (NYSE:STZGet Rating) – Equities research analysts at Jefferies Financial Group issued their Q1 2023 EPS estimates for Constellation Brands in a research report issued on Monday, April 11th. Jefferies Financial Group analyst K. Grundy expects that the company will earn $2.43 per share for the quarter. Jefferies Financial Group also issued estimates for Constellation Brands’ Q2 2023 earnings at $2.93 EPS, Q3 2023 earnings at $3.30 EPS, Q4 2023 earnings at $2.37 EPS, FY2023 earnings at $11.03 EPS and FY2024 earnings at $13.11 EPS.

Constellation Brands (NYSE:STZGet Rating) last posted its quarterly earnings data on Thursday, April 7th. The company reported $2.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.27. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Constellation Brands had a positive return on equity of 16.43% and a negative net margin of 0.42%. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 EPS.

Several other research firms also recently weighed in on STZ. Deutsche Bank Aktiengesellschaft raised their target price on Constellation Brands from $240.00 to $250.00 and gave the company a “hold” rating in a research report on Friday, April 8th. Argus lifted their price target on Constellation Brands from $272.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, January 7th. Truist Financial lifted their price target on Constellation Brands from $213.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, April 8th. UBS Group boosted their target price on Constellation Brands from $270.00 to $285.00 and gave the company a “buy” rating in a report on Friday, January 7th. Finally, Morgan Stanley dropped their price target on Constellation Brands from $299.00 to $294.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $271.42.

Shares of STZ stock opened at $248.63 on Wednesday. The stock’s 50-day simple moving average is $226.35 and its 200-day simple moving average is $229.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.65 and a current ratio of 1.23. The firm has a market capitalization of $47.18 billion, a PE ratio of -1,381.28, a P/E/G ratio of 2.44 and a beta of 1.20. Constellation Brands has a fifty-two week low of $207.35 and a fifty-two week high of $258.00.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, May 4th. This represents a $3.20 dividend on an annualized basis and a yield of 1.29%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.14. Constellation Brands’s dividend payout ratio (DPR) is currently -516.67%.

In other Constellation Brands news, Director Jeremy S. G. Fowden sold 7,574 shares of the firm’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $240.38, for a total value of $1,820,638.12. Following the transaction, the director now owns 18,501 shares of the company’s stock, valued at $4,447,270.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.64% of the company’s stock.

Several large investors have recently made changes to their positions in STZ. First Trust Advisors LP increased its stake in shares of Constellation Brands by 4.6% in the first quarter. First Trust Advisors LP now owns 18,870 shares of the company’s stock valued at $3,308,000 after purchasing an additional 833 shares during the period. Park Avenue Securities LLC increased its stake in shares of Constellation Brands by 14.0% during the third quarter. Park Avenue Securities LLC now owns 2,511 shares of the company’s stock valued at $529,000 after acquiring an additional 309 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Constellation Brands by 5.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 26,496 shares of the company’s stock valued at $5,628,000 after acquiring an additional 1,252 shares during the period. Mayflower Financial Advisors LLC increased its stake in shares of Constellation Brands by 5.7% during the third quarter. Mayflower Financial Advisors LLC now owns 1,915 shares of the company’s stock valued at $414,000 after acquiring an additional 103 shares during the period. Finally, Bank Hapoalim BM increased its stake in shares of Constellation Brands by 20.4% during the third quarter. Bank Hapoalim BM now owns 3,425 shares of the company’s stock valued at $722,000 after acquiring an additional 580 shares during the period. Institutional investors own 68.82% of the company’s stock.

About Constellation Brands (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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Earnings History and Estimates for Constellation Brands (NYSE:STZ)

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