No announcement yet.

Constellation Brands Upped to Outperform

  • Filter
  • Time
  • Show
Clear All
new posts

  • Constellation Brands Upped to Outperform

    <strong><a href="">watch</a></strong>
    <strong><a href="">watches for men</a></strong>
    copy watch
    | copy watch
    | replica omega
    Constellation Brands Upped to Outperform By Zacks Equity Research | Zacks – Wed, Oct 16, 2013 12:00 PM EDT
    RELATED QUOTES Symbol Price Change STZ 64.69 TAP 54.83 DEO 129.19 SAM 247.70
    <a href="">omega watches</a> On Oct 10, 2013, we upgraded Constellation Brands Inc. (STZ) to Outperform based on its better-than-expected second quarter bottom-line results and upbeat guidance for fiscal 2014. The company – which is a global producer and marketer of beer, wine and spirits – became a Zacks Rank #1 (Strong Buy) stock shortly after announcing second-quarter results.

    Why the Upgrade?

    Constellation Brands’ second-quarter fiscal 2014 adjusted earnings per share came in at 96 cents, handily beating the Zacks Consensus Estimate of 89 cents and up 35.2% on a year-over-year basis. The major driving factor was consolidation of the Crown Imports business.

    Further, management raised its guidance for fiscal 2014 based on impressive quarterly results and leverage from the Grupo Modelo acquisition. Constellation Brands now expects fiscal 2014 adjusted earnings to come in the range of $2.80–$3.10 per share, compared with $2.60–$2.90 projected earlier.

    Following the second-quarter results, the Zacks Consensus Estimate for fiscal 2014 and 2015 moved up 5.3% and 4.7% to $2.98 and $3.75 per share, respectively, over the last 30 days.

    Overall, we are optimistic about Constellation Brands’ prospects. This is because apart from strong second-quarter results, the company has carved a niche for itself with a formidable portfolio of well-known brands.

    Moreover, Constellation Brands’ focus on brand building and its growth initiatives have helped it to achieve steady depletion trends and increase market share in the U.S. wine and spirits category. Further, the company has been pursuing strategic acquisitions in order to strengthen its foothold in the U.S. wine industry and to increase its portfolio of brands. The buyout of Grupo Modelo has proved to be accretive to the company’s earnings.

    We believe that such initiatives, along with inorganic expansion efforts, will likely aid Constellation Brands’ long-term growth.

    Other Stocks to Consider

    Other stocks in the beverage and alcohol sector worth considering include Molson Coors Brewing Company (TAP), Boston Beer Co. Inc. (SAM) and Diageo plc (DEO). All of these carry a Zacks Rank #2 (Buy).

      Read the Full Research Report on STZ
    Read the Full Research Report on TAP
    Read the Full Research Report on DEO
    Read the Full Research Report on SAM

    Zacks Investment Research

    Zacks Investment Research
    FREE: Zacks Rank #1 Stock of the Day

    This system triples the S&P 500

    Get Picks Now !
    replica omega

    watches sale

    Related Content Will Facebook (FB) Beat Earnings in Q3? EPAM Raises Guidance for Q3 and FY13 Endo Health Upped to Outperform AmTrust: A Strong Buy Will Molex (MOLX) Miss Earnings Estimates? Schlumberger (SLB) Set to Beat Earnings Estim … Will Intel (INTC) Beat Earnings Estimates? Google Stock Crosses $1,000 Mark After Earnings Wochit Wading through earnings season CNBC Videos
    Top Stories » Facebook Status: Big Gains, but Worries Ahead The Wall Street Journal seamaster omega Facebook Inc. spooked investors with warnings that it may be nearing the limits of one of its most important areas … Young and Smart, but Millennials Face Homebuying Hurdles Retailers Brace for Reduction in Food Stamps The Wall Street Journal Bank Regulators Propose Tougher Trading Book Rules Reuters Earlier Nasdaq Glitch Cued Talk, No Action The Wall Street Journal
    Trading Center
    Compare Brokers »
    Yahoo Finance on Facebook

    copy omega watches
    copy omega watches watch
    watches for men