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Constellation Brands (STZ) Stock Falls on Q1 Earnings Miss
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Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released first-quarter fiscal 2018 results, wherein adjusted earnings of $2.20 per share lagged the Zacks Consensus Estimate of $2.42. Moreover, the bottom line declined 5% from $2.32 a share earned in the year-ago quarter.
Constellation Brands reiterated its adjusted earnings per share view for fiscal 2019, while it raised GAAP earnings per share forecast. The company projects adjusted earnings per share of $9.40–$9.70 and GAAP earnings of $10.93–$11.23.
Earnings Estimate Revision: The Zacks Consensus Estimate has been witnessing a decline in the last 30 days. However, 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 12.2% in the trailing four quarters.
Revenues: Constellation Brands generated net sales of $2,047.1 million that increased 6% year over year and surpassed the Zacks Consensus Estimate of $2,040 million driven by 11% rise in beer, offset by 2.5% decline in wine and spirits sales.
The company anticipates beer business sales to grow 9–11% in fiscal 2019, while sales for the wine and spirits business is expected to increase 2–4%.
Key Events: Constellation Brands declared a quarterly cash dividend of 74 cents per share for Class A shares and 67 cents per share for Class B shares. These dividends are payable on Aug 24, to shareholders with record as on Aug 10.
Stock Movement: Constellation Brands’ shares declined 4.3% during pre-market trading hours following the earnings release. Investors developed a negative sentiment owing to the lower-than-expected bottom line results.
Check back later for our full write up on Constellation Brands’ earnings report!
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Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Constellation Brands (STZ) Stock Falls on Q1 Earnings Miss
Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released first-quarter fiscal 2018 results, wherein adjusted earnings of $2.20 per share lagged the Zacks Consensus Estimate of $2.42. Moreover, the bottom line declined 5% from $2.32 a share earned in the year-ago quarter.
Constellation Brands reiterated its adjusted earnings per share view for fiscal 2019, while it raised GAAP earnings per share forecast. The company projects adjusted earnings per share of $9.40–$9.70 and GAAP earnings of $10.93–$11.23.
Earnings Estimate Revision: The Zacks Consensus Estimate has been witnessing a decline in the last 30 days. However, 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 12.2% 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 $2,047.1 million that increased 6% year over year and surpassed the Zacks Consensus Estimate of $2,040 million driven by 11% rise in beer, offset by 2.5% decline in wine and spirits sales.
The company anticipates beer business sales to grow 9–11% in fiscal 2019, while sales for the wine and spirits business is expected to increase 2–4%.
Key Events: Constellation Brands declared a quarterly cash dividend of 74 cents per share for Class A shares and 67 cents per share for Class B shares. These dividends are payable on Aug 24, to shareholders with record as on Aug 10.
Zacks Rank: Currently, Constellation Brands carries a Zacks Rank #3 (Hold) 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 declined 4.3% during pre-market trading hours following the earnings release. Investors developed a negative sentiment owing to the lower-than-expected bottom line results.
Check back later for our full write up on Constellation Brands’ earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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