These Analysts Slash Their Forecasts On Constellation Brands Following Q2 Results

Constellation Brands, Inc. (NYSE: STZ ) posted better-than-expected second-quarter results, after the closing bell on Tuesday. Constellation Brands reported quarterly earnings of $3.74 per share which beat the analyst consensus estimate of $3.56 per share. The company reported quarterly sales of $2.633 billion which beat the analyst consensus estimate of $2.542 billion. The company raised fiscal 2027 GAAP EPS guidance to $11.85-$12.55 from $11.50-$12.20, versus the $11.93 estimate. Constellation Brands reiterated adjusted EPS guidance at $11.20-$11.90, compared with the $11.72 estimate and expects to reach the high end if positive September trends continue. Constellation Brands also said it acquired SpikedAde, a spirit-based ready-to-drink (RTD) brand. Constellation shares fell 1% to $117.23 in pre-market trading. These analysts made changes to their price targets on Constellation following earnings announcement. HSBC analyst Sorabh Daga downgraded the stock from Buy to Hold and cut the price target from $192 to $135. Morgan Stanley analyst Dara Mohsenian maintained the stock with an Equal-Weight rating and cut the price target from $158 to $145. Needham analyst Gerald Pascarelli m