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Constellation Brands’ Fiscal 4Q17 Results Boost Analyst Optimism

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Constellation Brands’ Fiscal 4Q17 Results Boost Analyst Optimism PART 1 OF 8

Constellation Brands Stock Rose on 4Q17 Results

Stock up on strong results

Constellation Brands (STZ) stock surged 6.4% to $171.77 on April 6 in reaction to impressive results for fiscal 4Q17, which ended on February 28, 2017. Constellation Brands stock touched an intraday high of $175.43 on April 6. Constellation Brands also pleased investors with optimistic guidance for fiscal 2018 driven by the strong demand for its Mexican beer portfolio and the company’s strategy to focus on premium products.

Constellation Brands Stock Rose on 4Q17 Results

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YTD stock price movement

As of April 6, the stock price of Constellation Brands has surged 12.0% on a YTD (year-to-date) basis. The stock prices of Anheuser-Busch InBev (BUD), Molson Coors Brewing (TAP), and Brown-Forman (BF.B) have risen by 4.8%, -1.3%, and 1.6%, respectively, as of April 6.

Aside from its peers, Constellation Brands has also outperformed the S&P 500 Index (SPX), which has risen 5.3% on a YTD basis.

Constellation Brands derived about 57.7% of its fiscal 2017 net sales from its beer business. Constellation Brands’ major competitors in the beer space are Anheuser-Busch InBev and Molson Coors Brewing. Anheuser-Busch InBev further strengthened its leadership position in the beer market with the acquisition of SABMiller in October 2016. To gain regulatory approval, Anheuser-Busch InBev sold SABMiller’s 58.0% stake in MillerCoors to Molson Coors Brewing, which already owned 42.0% interest. With this, Molson Coors Brewing is the sole owner of MillerCoors.

Constellation Brands is strengthening its position in the beer as well as wine and spirits businesses by expanding its production capacity and through strategic acquisitions.

Series overview

In this earnings series on Constellation Brands, we’ll discuss the company’s earnings, sales, margins, and segment performance in fiscal 4Q17 and full-year fiscal 2017. We’ll also discuss valuation and analyst recommendations for Constellation stock.

Let’s look at the company’s earnings in the next part of this series.

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