We're upgrading this beer stock after an unwarranted post-earnings slide

Constellation Brands on Thursday delivered a top-and-bottom-line quarterly earnings beat, while raising its full-year guidance. And with shares retreating unnecessarily post-results, we're upgrading the stock to a buy rating. Net sales for the three months ended Aug. 31 climbed 7% year-over-year, to $2.84 billion, ahead of Wall Street's expectations of $2.82 billion, according to Refinitiv. Adjusted earnings-per-share advanced 17% compared with the same period a year prior, to $3.

A worker from Constellations Brands Inc.'s Grupo Modelo subsidiary makes a delivery in the Zona Rosa neighborhood of Mexico City. on Thursday delivered a top-and-bottom-line quarterly earnings beat, while raising its full-year guidance. And with shares retreating unnecessarily post-results, we're upgrading the stock to a buy rating.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What to expect when beer king Constellation Brands reports earnings Thursday morningWe're bullish on Constellation Brands (STZ) ahead of its earnings print, even as consumers are pressured in a tough economy.
Source: CNBC - 🏆 12. / 72 Read more »

Constellation Brands earnings top estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

Constellation Brands beats on earnings as Modelo-fueled beer momentum continuesRevenue growth was driven by demand for its Modelo Especial and Modelo Chelada brands as well as Corona Extra.
Source: NBCLA - 🏆 319. / 59 Read more »