Constellation Brands Downgraded Amid Subdued Beer Volume Growth Projections
Last week, Constellation Brands Inc. (NYSE:STZ) reported second-quarter adjusted earnings per share of $4.32, beating the analyst consensus of $4.08. Quarterly revenues of $2.92 billion beat the street view of $2.90 billion.
The company reported a loss per share of $6.59, including a $2.25 billion non-cash goodwill impairment loss for the Wine and Spirits business.
BofA Securities downgraded Constellation Brands, reflecting lowered calendar year 2025 estimates amid slower beer volume growth.
The analyst writes, “We pause to consider that slower growth reflects more than just the macroeconomic environment.”
The analyst downgraded Constellation Brands to Neutral from Buy and lowered the price target to $255 from …
Full story available on Benzinga.com