5 Stocks Making Moves on Quarterly Results

2. Constellation Brands, Inc. (NYSE:STZ)

Number of Hedge Fund Holders: 50

Shares of Constellation Brands, Inc. (NYSE:STZ) rose more than two percent on Thursday, 7 October 2021, after announcing the financial results for its fiscal second quarter. The leading producer of alcoholic beverages reported adjusted earnings of $2.52 per share, missing the consensus forecast of $2.79 per share

Revenue came in at $2.37 billion, just ahead of the consensus forecast of $2.3 billion. Constellation Brands, Inc. (NYSE:STZ) had reported adjusted earnings of $2.91 per share on revenue of $2.26 billion in the comparable period of 2020.

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Constellation Brands, Inc. (NYSE:STZ) also updated the profit outlook for its fiscal year 2022. It now expects adjusted earnings in the range of $10.15 – $10.45 per share, slightly higher than its previous forecast between $10 – $10.40 per share.