Constellation Brands (STZ) announced its most recent quarterly financial results on Wednesday, Oct-5-2016. STZ said it had a profit of $1.77 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $1.65. The company posted revenue of $2021.00 million in the period, compared to analysts expectations of $1955.47 million. STZ’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.
Many Wall Street Analysts have commented on Constellation Brands. Constellation Brands was Initiated by Credit Suisse to “Neutral” on Sep 16, 2016.
Constellation Brands opened for trading at $165.83 and hit $166.88 on the upside on Tuesday, eventually ending the session at $165.85, with a gain of 0.21% or 0.34 points. The heightened volatility saw the trading volume jump to 15,02,442 shares. Company has a market cap of $33,254 M.
In a different news, on Aug 1, 2016, Thomas Michael Kane (Executive VP, Chief HR Officer) sold 7,000 shares at $163.26 per share price. According to the SEC, on Jul 13, 2016, F Paul Hetterich (Exec. Vice President) sold 10,000 shares at $164.76 per share price. On Jul 6, 2016, David Eric Klein (Exec Vice Pres. & CFO) sold 14,300 shares at $166.27 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.