Constellation Brands (STZ) Rises on Q1 Earnings Beat, Solid View [Yahoo! Finance]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: Yahoo! Finance
However, the company's net sales marginally missed the consensus mark. Results primarily benefited from the continued strong performance of the beer business and an improved operating margin. Comparable earnings of $3.57 per share improved 17% year over year in the fiscal first quarter and beat the Zacks Consensus Estimate of $3.46. On a reported basis, the company reported earnings per share of $4.78, up significantly from 74 cents earned in the year-ago quarter. Net sales increased 6% year over year to $2.66 billion but missed the Zacks Consensus Estimate of $2.67 billion. Sales growth was driven by continued strength in the beer business on solid volume growth and strong demand across most of its portfolio. Following the strong results, shares of Constellation Brands rose 3.5% in the pre-market trading session on Jul 3. Shares of this Zacks Rank #3 (Hold) company have risen 7.1% in the year-to-date period against the industry's decline of 13.8%. Image Source: Zacks Investme
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STZ
News
- Constellation Brands, Inc. (NYSE: STZ) had its price target lowered by analysts at Barclays PLC from $292.00 to $287.00.MarketBeat
- Constellation Brands, Inc. (NYSE: STZ) had its price target raised by analysts at JPMorgan Chase & Co. from $291.00 to $320.00. They now have an "overweight" rating on the stock.MarketBeat
- Constellation Brands, Inc. (NYSE: STZ) had its price target raised by analysts at Jefferies Financial Group Inc. from $310.00 to $311.00. They now have a "buy" rating on the stock.MarketBeat
- Constellation Brands, Inc. (NYSE: STZ) had its price target lowered by analysts at Roth Mkm from $305.00 to $303.00. They now have a "buy" rating on the stock.MarketBeat
- Constellation Brands, Inc. (NYSE: STZ) had its price target raised by analysts at UBS Group AG from $315.00 to $320.00. They now have a "buy" rating on the stock.MarketBeat
STZ
Earnings
- 7/3/24 - Beat
STZ
Sec Filings
- 7/3/24 - Form 10-Q
- 7/3/24 - Form 8-K
- 6/14/24 - Form PX14A6G
- STZ's page on the SEC website