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- Constellation Brands posts mixed results
- Founded: 1945
- Headquarters: Victor, New York, United States
- Number of employees: 10,700 (2023)
- Industry: Beverages
- Key people: Rob Sands (Chairman), Richard Sands (Vice Chairman), Bill Newlands (CEO), Garth Hankinson (CFO)
- 1 month: +5.58%
- 3 months: +4.62%
- Year-to-date: +2.39%
- 1 year: +15.54%
- JP Morgan: $301
- Jefferies Financial Group: $292
- Truist Financial: $260
- Barclays: $280
- HSBC: $290
- Wedbush: $300
- Wells Fargo: $285
- Goldman Sachs: $305
- Deutsche Bank: $243
- Royal Bank of Canada: $295
- TD Cowen: $300
- Morgan Stanley: $305
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & AnalysisUS producer and marketer of beer, wine and spirits, Constellation Brands Inc. (NYSE: STZ), announced Q3 fiscal 2024 financial results before the market opened in the US on Friday.
The company reported revenue of $2.471 billion for the quarter, which fell short of $2.538 billion expected.
Earnings per share topped analyst estimates at $3.19 per share vs. estimate of $3.014 per share.
Company overview
CFO commentary
“The continued strong performance of our Beer portfolio in Q3 has given us the confidence to raise our full-year operating income outlook for that Business. In addition, we now expect higher
enterprise operating cash flow and free cash flow in Fiscal 2024. We remain committed to our disciplined and balanced approach to deploying that cash with a consistent focus on supporting our investment grade balance sheet, steady cash returns to shareholders through our dividend, opportunistic share repurchases, brewing capacity investments in our Beer Business, and tuck-in M&A to fill portfolio gaps,” Garth Hankinson, CFO of Constellation Brands, commented on the latest results.Stock reactions
Shares of Constellation Brands were up by just over 2% after posting the latest results on Friday, trading at $247.53 a share.
Stock performance
Constellation Brands stock price targets
Constellation Brands Inc. is the 387th largest company in the world with a market cap of $45.46 billion.
You can trade Constellation Brands Inc. (NYSE: STZ) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD.
GO Markets now offers pre-market and after-market trading on popular US Share CFDs.
Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time. Excludes Fridays; please see specifications section on
platform for further details.Why trade during extended hours?
Sources: Constellation Brands Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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