We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Brown-Forman B (BF.B) Surges 5.5%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Brown-Forman B (BF.B - Free Report) shares ended the last trading session 5.5% higher at $28.9. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.2% loss over the past four weeks.
The Brown-Forman shares moved higher after the company disclosed that it had received an unsolicited acquisition proposal from privately held spirits company Sazerac. Although Brown-Forman’s board, supported by its controlling shareholder group, Wolf Pen Branch, determined that the proposal was “not actionable” and reaffirmed its commitment to remaining independent, investors viewed the disclosure as highlighting the company’s strategic value. The announcement also fueled speculation that a higher bid or renewed acquisition interest could emerge in the future. Management reiterated confidence in its long-term growth strategy, brand portfolio, geographic expansion and operational initiatives aimed at enhancing shareholder value.
This company is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of +5.6%. Revenues are expected to be $922.86 million, down 0.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Brown-Forman B, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BF.B going forward to see if this recent jump can turn into more strength down the road.
Brown-Forman B is part of the Zacks Beverages - Alcohol industry. Molson Coors Brewing (TAP - Free Report) , another stock in the same industry, closed the last trading session 3.4% higher at $42.51. TAP has returned 3.5% in the past month.
For Molson Coors, the consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.52. This represents a change of -25.9% from what the company reported a year ago. Molson Coors currently has a Zacks Rank of #4 (Sell).
View the Zacks #1 Rank List
Image: Bigstock
Brown-Forman B (BF.B) Surges 5.5%: Is This an Indication of Further Gains?
Brown-Forman B (BF.B - Free Report) shares ended the last trading session 5.5% higher at $28.9. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.2% loss over the past four weeks.
The Brown-Forman shares moved higher after the company disclosed that it had received an unsolicited acquisition proposal from privately held spirits company Sazerac. Although Brown-Forman’s board, supported by its controlling shareholder group, Wolf Pen Branch, determined that the proposal was “not actionable” and reaffirmed its commitment to remaining independent, investors viewed the disclosure as highlighting the company’s strategic value. The announcement also fueled speculation that a higher bid or renewed acquisition interest could emerge in the future. Management reiterated confidence in its long-term growth strategy, brand portfolio, geographic expansion and operational initiatives aimed at enhancing shareholder value.
This company is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of +5.6%. Revenues are expected to be $922.86 million, down 0.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Brown-Forman B, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BF.B going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Brown-Forman B is part of the Zacks Beverages - Alcohol industry. Molson Coors Brewing (TAP - Free Report) , another stock in the same industry, closed the last trading session 3.4% higher at $42.51. TAP has returned 3.5% in the past month.
For Molson Coors, the consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.52. This represents a change of -25.9% from what the company reported a year ago. Molson Coors currently has a Zacks Rank of #4 (Sell).