We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Constellation Brands (STZ) Tops Q4 Earnings, Stock Up
Read MoreHide Full Article
Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released fourth-quarter fiscal 2017 results, wherein adjusted earnings of $1.48 a share surpassed the Zacks Consensus Estimate of 1.37. Moreover, the bottom line surged 24% from $1.19 a share earned in the year-ago quarter.
Constellation Brands outlined its fiscal 2018 earnings forecast, projecting adjusted earnings per share of $7.70–$8.00 and GAAP earnings of $7.65–$7.95.
Earnings Estimate Revision: The Zacks Consensus Estimate has been stable in the last 30 days. Constellation Brands’ performance in the trailing four quarters (including the quarter under review) gives a positive picture. The company outperformed the Zacks Consensus Estimate by an average of 7.7% in the trailing four quarters.
Revenues: Constellation Brands generated net sales of $1,628 million that increased 5% year over year and outdid the Zacks Consensus Estimate of $1,587 million driven by 11% rise in beer and flat wine and spirits sales. On a constant-currency basis, organic sales grew 7%.
The company anticipates beer business sales to grow 9%–11% in fiscal 2018, while sales for the wine and spirits business is expected to decline 4%–6%. These estimates include the expected impact from the divestiture of the Canadian wine business and the benefits from High West, Charles Smith and Prisoner acquisitions.
Key Events: Constellation Brands completed the sale of its Canadian Wine business to Ontario Teachers' Pension Plan, which is Canada’s largest single-profession pension plan for C$1.03 billion. The sale forms a part of the company’s strategy to focus on premium, margin accretive, growth opportunities.
The company declared a quarterly cash dividend of 52 cents per share for Class A shares and 47 cents per share for Class B shares. These dividends are payable on May 24, to shareholders with record as on May 10.
During fiscal 2017, the company bought back nearly 7.4 million shares for about $1.1 billion.
Stock Movement: Constellation Brands’ shares jumped nearly 4.1% during pre-market trading hours following the earnings release. Investors developed a positive sentiment following the company’s better-than-expected results and favorable fiscal 2018 view.
Check back later for our full write up on Constellation Brands’ earnings report!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Constellation Brands (STZ) Tops Q4 Earnings, Stock Up
Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released fourth-quarter fiscal 2017 results, wherein adjusted earnings of $1.48 a share surpassed the Zacks Consensus Estimate of 1.37. Moreover, the bottom line surged 24% from $1.19 a share earned in the year-ago quarter.
Constellation Brands outlined its fiscal 2018 earnings forecast, projecting adjusted earnings per share of $7.70–$8.00 and GAAP earnings of $7.65–$7.95.
Earnings Estimate Revision: The Zacks Consensus Estimate has been stable in the last 30 days. Constellation Brands’ performance in the trailing four quarters (including the quarter under review) gives a positive picture. The company outperformed the Zacks Consensus Estimate by an average of 7.7% in the trailing four quarters.
Constellation Brands Inc Price and EPS Surprise
Constellation Brands Inc Price and EPS Surprise | Constellation Brands Inc Quote
Revenues: Constellation Brands generated net sales of $1,628 million that increased 5% year over year and outdid the Zacks Consensus Estimate of $1,587 million driven by 11% rise in beer and flat wine and spirits sales. On a constant-currency basis, organic sales grew 7%.
The company anticipates beer business sales to grow 9%–11% in fiscal 2018, while sales for the wine and spirits business is expected to decline 4%–6%. These estimates include the expected impact from the divestiture of the Canadian wine business and the benefits from High West, Charles Smith and Prisoner acquisitions.
Key Events: Constellation Brands completed the sale of its Canadian Wine business to Ontario Teachers' Pension Plan, which is Canada’s largest single-profession pension plan for C$1.03 billion. The sale forms a part of the company’s strategy to focus on premium, margin accretive, growth opportunities.
The company declared a quarterly cash dividend of 52 cents per share for Class A shares and 47 cents per share for Class B shares. These dividends are payable on May 24, to shareholders with record as on May 10.
During fiscal 2017, the company bought back nearly 7.4 million shares for about $1.1 billion.
Zacks Rank: Currently, Constellation Brands carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Constellation Brands’ shares jumped nearly 4.1% during pre-market trading hours following the earnings release. Investors developed a positive sentiment following the company’s better-than-expected results and favorable fiscal 2018 view.
Check back later for our full write up on Constellation Brands’ earnings report!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>