Constellation Brands Inc (NYSE:STZ) Declares Quarterly Dividend of $1.02

Key Points

• Constellation Brands Inc declared a quarterly dividend of $1.02 per share, with an annualized dividend yield of 2.9%, payable on November 13th to stockholders of record as of October 30th.
• The company reported earnings of $3.22 per share for the last quarter, which fell short of analyst expectations, and experienced a 5.5% decline in year-over-year revenue.
• Constellation Brands has a dividend payout ratio of 29.4% and is expected to earn $14.44 per share next year, indicating a sustainable ability to cover its dividends.

Constellation Brands Inc (NYSE:STZ - Get Free Report) announced a quarterly dividend on Wednesday, October 1st. Stockholders of record on Thursday, October 30th will be given a dividend of 1.02 per share on Thursday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 30th.

Constellation Brands has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Constellation Brands to earn $14.44 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 28.3%.

Constellation Brands Price Performance

Shares of STZ stock traded up $4.28 during midday trading on Wednesday, reaching $138.95. 2,715,595 shares of the company traded hands, compared to its average volume of 2,483,898. The firm's 50 day simple moving average is $155.84 and its two-hundred day simple moving average is $170.25. Constellation Brands has a 1-year low of $131.20 and a 1-year high of $257.36. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The firm has a market cap of $24.50 billion, a PE ratio of -58.14, a price-to-earnings-growth ratio of 0.41 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the business posted $3.57 earnings per share. Constellation Brands's revenue was down 5.5% on a year-over-year basis. On average, equities research analysts expect that Constellation Brands will post 13.5 EPS for the current fiscal year.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.

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