Constellation Brands Gears Up For Q3 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Constellation Brands, Inc. STZ is projected to release financial results for its third quarter ended Nov. 30, 2023, before the opening bell on Jan. 5, 2024.

Analysts expect the company to post quarterly earnings at $3.00 per share, up from year-ago earnings of $2.83 per share. The company’s revenue might come in at $2.55 billion for the latest quarter, according to data from Benzinga Pro.

Constellation Brands, during November, announced additional $2 billion share repurchase authorization.

Constellation Brands shares gained 0.5% to close at $242.53 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Barclays analyst Lauren Lieberman maintained an Overweight rating and cut the price target from $294 to $280 on Oct. 9, 2023. This analyst has an accuracy rate of 62%.
• Wells Fargo analyst Chris Carey maintained an Overweight rating and increased the price target from $280 to $285 on Oct. 3, 2023. This analyst has an accuracy rate of 62%.
• Goldman Sachs analyst Bonnie Herzog maintained a Buy rating and boosted the price target from $275 to $305 on Sept. 25, 2023. This analyst has an accuracy rate of 67%.
• Morgan Stanley analyst Dara Mohsenian maintained an Overweight rating and increased the price target from $290 to $305 on July 24, 2023. This analyst has an accuracy rate of 72%.
• B of A Securities analyst Bryan Spillane maintained a Buy rating and raised the price target from $266 to $290 on July 20, 2023. This analyst has an accuracy rate of 68%.

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