After hitting a 52-week high of $45.92 on Mar 15, the shares
Constellation Brands Inc.
) gathered momentum yet again to craft a new high of $49.22
yesterday. This alcoholic beverage company eventually closed at
$48.79, up 3.2% from the previous day's session and generated a
year-to-date return of roughly 30%. The company currently trades
at a forward P/E of 18.77x, a 3.5% discount to the peer group
average of 19.46x.
An impressive record of beating the quarterly earnings
expectations, sustained focus on brand building as well as
initiatives to introduce new products in its wine and spirits
business, are the major attributes that pushed the shares of
Constellation Brands to a new high. Average volume of shares
traded over the last 3 months stands at approximately 4,916K.
The recent third-quarter fiscal 2013 results have added to its
streak of upbeat performances. Constellation Brands posted
adjusted earnings of 63 cents per share that surged from 50 cents
in the year-ago quarter and surpassed the Zacks Consensus
Estimate of 55 cents by 14.6%, primarily driven by increased
sales and improved margins. In the last 4 quarters, the company
has beaten the Zacks Consensus Estimates by an average of
Net sales in the quarter increased 9% to $766.9 million from
the year-ago quarter. The hike was driven by higher volumes and
better product mix.
Bolstered by a strong quarterly performance, the company
raised its fiscal 2013 adjusted earnings guidance to a range of
$2.10-$2.20 per share, up from the earlier forecast of
$2.00-$2.10. However, the projected earnings of this Zacks Rank
#4 (Sell) stock reflects a decline of 10.3% to 6% from fiscal
Constellation Brands is slated to report its fourth quarter
and fiscal 2013 results on Apr 10. The current Zacks Consensus
Estimates for the quarter and fiscal year stand at 45 cents and
$2.18 per share, respectively.
Alongside, companies such as
Tiffany & Company
) achieved new 52-week highs of $72.48, $31.13 and $118.97,
respectively, on Tuesday, Apr 2.
COLGATE PALMOLI (CL): Free Stock Analysis
NEWS CORP INC-A (NWSA): Free Stock Analysis
CONSTELLATN BRD (STZ): Free Stock Analysis
TIFFANY & CO (TIF): Free Stock Analysis
To read this article on Zacks.com click here.