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.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

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.
Bron: CNBC - 🏆 12. / 72 Lees verder »

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

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.
Bron: NBCLA - 🏆 319. / 59 Lees verder »