US stocks off to a mixed start Thursday

Posted April 07, 2017

Constellation is the leading growth contributor to the US beer industry for the fiscal year, according to the company's earnings report, and holds numerous America's top imported beers in its portfolio. This was due to a 13% increase in organic net sales, driven primarily by volume growth and favorable pricing, as well as the acquisition benefit from Ballast Point. Tightening the gaze, stock performance for the last 5 trading days is -1.40%. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.24. These positives were good enough for investors to lift the stock price in pre-market.

Constellation posted comparable earnings of $1.48 per share on net sales of $1.63 billion for the most recent quarter. 4,397,116 shares of the stock traded hands. The current consensus recommendation provided by covering analysts is 2.10. Almost all of Constellation's beer is imported from Mexico, including Corona. Constellation Brands had a return on equity of 19.07% and a net margin of 16.65%. Corporate insiders own 10.63% of the company's stock.

CEO Rob Sands said the company will focus on the premium market in both wine and spirits; previous year it bought Utah-based High West Distillery, a craft whiskey producer, for $160 million. (NYSE:STZ) on Thursday, September 17 with "Neutral" rating.

Total sales for the quarter came in US$1.63bn, slightly ahead of the US$1.59bn Wall Street analysts had forecast.

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STZ, a leading global producer and marketer of beverage alcohol brands, released fourth-quarter fiscal 2017 results, wherein adjusted earnings of $1.48 a share surpassed the Zacks Consensus Estimate of 1.37. Shares of the company surged $12.11, or 7.5%, to $173.50 following the earnings release on Thursday morning. While both beers appeal to a wide swath of demographics, Latino drinkers remain important to the Mexican beer business.

The company sold its Canadian wine business in October for C$1.03 billion ($775 million) to strengthen its footing in the premium craft liquor market in the United States.

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