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 5.6% compared to the same period last year. Revenues are forecasted to be $2.57 billion, representing a year-over-year decrease of 3.4%.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance 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.
In light of this perspective, let's dive into the average estimates of certain Constellation Brands metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Net Sales- Wine and Spirits' of $297.74 million. The estimate suggests a change of -23.5% year over year.
Analysts predict that the 'Net Sales- Beer' will reach $2.27 billion. The estimate indicates a year-over-year change of -0.1%.
It is projected by analysts that the 'Operating Income- Wine and Spirits' will reach $12.38 million. The estimate is in contrast to the year-ago figure of $59.70 million.
Analysts' assessment points toward 'Operating Income- Beer' reaching $899.70 million. Compared to the present estimate, the company reported $941.60 million in the same quarter last year.
View all Key Company Metrics for Constellation Brands here>>>
Shares of Constellation Brands have experienced a change of -10.2% in the past month compared to the +6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), STZ is expected to mirror the overall market performance 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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