Mexican Beer Imports Fuel Sales at Constellation Brands

by Ben Pena October 7, 2016, 6:09
Mexican Beer Imports Fuel Sales at Constellation Brands

They now have a Dollars 93 price target on the stock.

Several brokerages recently weighed in on STZ.

Sell-side analyst recommendations point to a short term price target of $177.32 on the shares of Constellation Brands Inc.

Many Wall Street Analysts have commented on Constellation Brands.

The deal will expands Constellation Brands' portfolio into craft spirits category with American straight whiskeys. Goldman Sachs maintained the stock with "Buy" rating in Thursday, April 7 report. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Constellation Brands, Inc. (NYSE:STZ) has risen 16.72% since March 3, 2016 and is uptrending. (NYSE:STZ) to report earnings of about $1.52 per share on $1,829.43M in revenue. The firm has a 50 day moving average of $165.36 and a 200 day moving average of $160.21. It has a 34.34 P/E ratio. Sell-side analyst recommendations point to a short term price target of $37.6 on the company shares. The stock remained 1.94% volatile for the week and 2.07% for the month. (NYSE:STZ)'s most recent quarter, EPS moved to $1.54 from $1.19 in prior quarter and revenues reached at $1,871.80M versus $1,543.20M. Constellation already had climbed 16 percent this year through Tuesday.

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The company now expects to bring in adjusted per-share earnings for the year of between $6.30 and $6.45, compared with its previous estimate of between $6.05 and $6.35. It has a dividend yield of 0.95%.

In April, it acquired the brands of California-based Prisoner Wine Company for around $285 million, having already announced a $32 million expansion to its Marlborough winery in New Zealand.

The stock increased 1.46% or $2.46 on October 6, hitting $171.03. The stock's 52-week range is $14.92 - $31.07. Also, it has yielded a return of over 25% in the past 12 months and has a long-term expected earnings growth rate of 17.8%. The disclosure for this sale can be found here. Also, VP Thomas J. Mullin sold 9,516 shares of the company's stock in a transaction dated Thursday, August 25th.

Hedge funds have recently made changes to their positions in the company. Cantab Capital Prns Limited Liability Partnership has invested 0% of its portfolio in Constellation Brands, Inc.

Constellation Brands reported Wednesday morning net income attributable to the company of $358.9 million, or $1.75 a share, up 19 percent from $302.4 million, or $1.49 a share, during last year's quarter. SunTrust Robinson Humphrey's target would suggest a potential upside of 11.09% from the company's last stock close.

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