dglobalnews.com Analysts At Susquehanna Bancshares Maintained Constellation Brands, Inc. (NYSE:STZ) As Hold
Published: Fri, April 07, 2017
Markets | By Armando Jensen

Analysts At Susquehanna Bancshares Maintained Constellation Brands, Inc. (NYSE:STZ) As Hold

Analysts At Susquehanna Bancshares Maintained Constellation Brands, Inc. (NYSE:STZ) As Hold

Among 7 analysts covering Avnet Inc.

Constellation, which makes most of its beer in Mexico, has faced investor skittishness due to potential tax changes on USA imports by President Donald Trump and congressional Republicans. Morgan Stanley reiterated an "overweight" rating and set a $190.00 price target (down from $194.00) on shares of Constellation Brands in a report on Sunday, January 8th. Tightening the gaze, stock performance for the last 5 trading days is -1.40%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion.

Victor, Ontario County-based Constellation Brands posted Thursday morning net income attributable to the company of $452 million, or $2.26 a share, versus $243.4 million, or $1.19 a share, a year earlier. Over the same time span, the stock marked US$173.55 as its best level and the lowest price reached was US$144. Bank of America Corp upgraded Constellation Brands from an "underperform" rating to a "buy" rating and upped their price target for the stock from $150.00 to $175.00 in a report on Wednesday, January 4th.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum. Barclays Capital maintained the shares of STZ in report on Thursday, April 7 with "Overweight" rating. "We really do think that Pacifico is going to come right on the heels of Corona and then Modelo Especial as the most popular imports in the United States". L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. Analysts had been expecting earnings of $1.36 per share on revenue of $1.59 billion. Company insiders own 10.63% of the company's stock. 4,397,116 shares of the stock traded hands.

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Beer sales increased 17%, and wine and spirits sales rose 6%."Our beer business continues to be a powerhouse for growth".

Beer net sales rose 11%. Investors applauded the world's No. 1 beer importer and spirits company on better-than-expected top-line and bottom-line numbers, driven by surging demand for its premium beers including Corona and Ballast Point.

For fiscal 2018, the company expects $7.70 to $8 in per-share profit, well ahead of current Street forecasts for $7.51.

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