Markets Right Now: US stocks are off to a mixed start
Constellation Brands was the top growth contributor to American's $108 billion beer market for 2016, as the business also benefited from Constellation's acquisition of craft brewer Ballast Point. Current price levels see the company 7.34% off the 20-day simple moving average.
Moreover, the net sales for beer grew 11 percent due to a 10 percent increase in organic net sales driven primarily by volume growth and favorable pricing. (NYSE:STZ) are scrambling higher in today's trading session. For the quarter, shares are performing at 2.43%. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $1.36 by $0.12.
Furthermore, for FY 18, Constellation Brands expects the capital expenditures to be in the range of $1.175 - $1.275 billion, including approximately $1.0 billion targeted for Mexico beer operations expansion activities and the free cash flow is expected to be in the range of $725 - $825 million. The return on equity ratio or ROE stands at 19.2 percent while most common profitability ratio return on investment (ROI) was 9 percent.
Among 24 analysts covering NXP Semiconductors NV (NASDAQ:NXPI), 12 have Buy rating, 1 Sell and 11 Hold. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $175.43.
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Other equities research analysts also recently issued research reports about the company. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2017/04/06/l-brands-lb-receives-media-sentiment-rating-of-0-10-2.html. Pennsylvania-based Wealthtrust Axiom Ltd Liability Corp has invested 0.14% in Constellation Brands, Inc.
In the 12 months to February 2017, the U.S. drinks group's reported net sales reached US$7.3 billion, while reported operating income grew 36% to US$2.4bn. Zacks Investment Research lowered shares of Constellation Brands from a "buy" rating to a "hold" rating in a report on Thursday, March 2nd.
"Our whole strategy is about lining up high-margin growth driver behind growth driver, whether it's in wine, beer, [or] spirits, and that's why we acquired brands like Meiomi and High West in addition to the rest of our great portfolio", Sands told Cramer.
Wine and spirits net sales increased 6%.
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Apr 06 2017