Revenue Update on Constellation Brands(NYSE:STZ)

Constellation Brands(NYSE:STZ) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during Pre-market on Oct 5, 2016. Company reported revenue of $2.02B. Analysts estimated a revenue of $1.97B. Earnings per share were $1.77. Analysts had estimated an EPS of $1.66.

In a different note, Credit Suisse said it Initiates Coverage on Constellation Brands, according to a research note issued on Sep 15, 2016. The shares have been rated ‘Neutral’ by the firm.

Constellation Brands (STZ) made into the market gainers list on Fridays trading session with the shares advancing 0.31% or 0.52 points. Due to strong positive momentum, the stock ended at $169.46, which is also near the day’s high of $169.93. The stock began the session at $169.27 and the volume stood at 8,90,942 shares. The 52-week high of the shares is $173.55 and the 52 week low is $130.23. The company has a current market capitalization of $34,075 M and it has 20,10,77,590 shares in outstanding.

Constellation Brands has also declared a cash dividend of $0.4000 on Oct 4, 2016. The shares will quote ex-dividend on Nov 4, 2016 and the record date has been fixed on Nov 8, 2016. The dividend payable date has been fixed on Nov 22, 2016.

Several Insider Transactions has been reported to the SEC. On Aug 1, 2016, Thomas Michael Kane (Executive VP, Chief HR Officer) sold 7,000 shares at $163.26 per share price.Also, 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.

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