Constellation Brands Inc STZ, a leading producer and marketer of alcoholic beverage brands, including Corona, Kim Crawford, and Svedka, is expected to release its Q1 fiscal 2020 earnings results before the bell this Friday, June 28. Our Zacks Consensus Estimate calls for quarterly EPS of $2.07.
Recently, analysts have been adjusting their yearly earnings estimates down, taking STZ from a Zacks Rank #2 (Buy) to a Zacks Rank #3 (Hold) in the last 30 days. This is likely due to a softening in the 2020 outlook in the wine and spirits market, with total U.S alcohol volumes down 0.8% last year and beer sales down 4% over the past three years, according to IWSR. However, STZ’s stock price is up 15.4% this year, right on par with the market.
Source: Yahoo Finance
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