In its upcoming report, Constellation Brands (STZ) is predicted by Wall Street analysts to post quarterly earnings of $3.37 per share, reflecting a decline of 22% compared to the same period last year. Revenues are forecasted to be $2.46 billion, representing a year-over-year decrease of 15.8%.
The current level reflects a downward revision of 6.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Constellation Brands metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts predict that the 'Net Sales- Wine and Spirits' will reach $138.99 million. The estimate indicates a year-over-year change of -64.2%.
According to the collective judgment of analysts, 'Net Sales- Beer' should come in at $2.33 billion. The estimate suggests a change of -8% year over year.
Analysts forecast 'Operating Income- Wine and Spirits' to reach -$9.36 million. Compared to the current estimate, the company reported $70.50 million in the same quarter of the previous year.
Analysts' assessment points toward 'Operating Income- Beer' reaching $911.22 million. The estimate compares to the year-ago value of $1.08 billion.
View all Key Company Metrics for Constellation Brands here>>>
Over the past month, shares of Constellation Brands have returned -11% versus the Zacks S&P 500 composite's +3.5% change. Currently, STZ carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Constellation Brands Inc (STZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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