Markets Right Now: US stocks are off to a mixed start

Markets Right Now: US stocks are off to a mixed start

Despite a challenging beer landscape in the quarter (owing in large part to tough weather in CA), beer shipments for the full year were up 11.1%, while depletions were up 10.4%. This is better than the Street analysts expectations of $7.51 a share. Constellation Brands updated its FY18 guidance to $7.70-8.00 EPS.

Constellation is the leading growth contributor to the US beer industry for the fiscal year, according to the company's earnings report, and holds numerous America's top imported beers in its portfolio. Navellier & Associates Inc increased its position in shares of Constellation Brands by 686.8% in the third quarter. Current price levels see the company 7.34% off the 20-day simple moving average.

STZ has been the topic of several analyst reports.

3 US beer company, reported better-than-expected quarterly profit and sales, helped by strong demand for its premium beers such as Corona and Ballast Point, and forecast 2018 earnings above estimates.

On 04/03/2017, RBC Capital Markets released a statement for Constellation Brands (NYSE:STZ) bumped up the target price from $0.00 to $183.00 that suggested an upside of 0.14%. Constellation Brands' performance in the trailing four quarters (including the quarter under review) gives a positive picture.

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Annual sales were $7.3 billion, up from $6.5 billion the prior year. A rating of 4 or 5 would represent a Sell recommendation. The stock presently has an average rating of "Buy" and a consensus target price of $178.22. Tpg Gru Holdg (Sbs) reported 0.47% in Constellation Brands, Inc. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of US & worldwide copyright laws.

The news sent its stock price to a record high. (NYSE:STZ) gapped up by $6.11 today and has $187.84 target or 9.00% above today's $172.33 share price. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

During this financial year, Constellation acquired a minority stake in organic spirits producer Catoctin Creek Distilling Company, assumed complete ownership of Utah-based High West Distillery, and acquired a minority stake in Kentucky's Bardstown Bourbon Company.

The broker said it has now set a "Hold" rating on shares of Constellation Brands, Inc. with a price target of 158.

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