The shares of Constellation Brands Inc. ( STZ ) went on to craft
a new high of $49.23 on Monday, Apr 8. This alcoholic beverage
company eventually closed at $48.57, up 1.5% from the previous
day's session and generated a year-to-date return of roughly 29.3%.
The company currently trades at a forward P/E of 18.7x, a 3.1%
discount to the peer group average of 19.3x.BEST BUY (BBY): Free Stock Analysis ReportFIFTH PACIFIC (FNP): Free Stock Analysis ReportMACYS INC (M): Free Stock Analysis ReportCONSTELLATN BRD (STZ): Free Stock Analysis
ReportTo read this article on Zacks.com click here.Zacks Investment
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 4,966K.
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 32.5%.
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
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 2012.
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 Best Buy Co. Inc. (
Macy's Inc. ( M ) and Fifth
& Pacific Companies Inc. ( FNP ) achieved new
52-week highs of $26.29, $44.24 and $21.18, respectively, on
Monday, Apr 8.