Constellation Brands (STZ) reported quarterly earnings results on Thursday, Jun-30-2016. The company said it had a profit of $1.54 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.52. The company posted revenue of $1872.00 million in the period, compared to analysts expectations of $1829.45 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.
Many Wall Street Analysts have commented on Constellation Brands. Company shares were Reiterated by UBS on Apr 7, 2016 to “Neutral”, Firm has raised the Price Target to $ 173 from a previous price target of $162 .Company shares were Reiterated by Stifel on Apr 7, 2016 to “Buy”, Firm has raised the Price Target to $ 189 from a previous price target of $174 .Company shares were Reiterated by Pivotal Research Group on Apr 6, 2016 to “Buy”, Firm has raised the Price Target to $ 200 from a previous price target of $185 .
Constellation Brands opened for trading at $159.05 and hit $160.39 on the upside on Wednesday, eventually ending the session at $159.39, with a gain of 1.10% or 1.74 points. The heightened volatility saw the trading volume jump to 24,79,973 shares. Company has a market cap of $31,841 M.
In a different news, on May 20, 2016, Keith E Wandell (director) sold 6,517 shares at $155.11 per share price. According to the SEC, on May 11, 2016, John A Wright (Exec. Vice President) sold 35,709 shares at $161.62 per share price. On May 10, 2016, James A Iii Locke (director) sold 2,836 shares at $160.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Constellation Brands Inc. is an international beverage alcohol company. The Company’s operating segments include Beer Wine and Spirits and Corporate Operations and Other. The Company’s wine portfolio is complemented by select spirits brands and other select beverage alcohol products. It is a multi-category supplier (beer wine and spirits) of beverage alcohol in the United States. The Company’s customers include wholesale distributors retailers on premise locations and government alcohol beverage control agencies. In the United States the Company operates 19 wineries using varieties of grapes grown in the Napa Sonoma Monterey and San Joaquin regions of California. It also operates eight wineries in Canada four wineries in New Zealand and five wineries in Italy. The Company’s Canadian whisky requirements are produced and aged at its Canadian distillery in Lethbridge Alberta.