Brown Forman Corporation (NYSE:BF.B) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.85-1.95 for the period, compared to the Thomson Reuters consensus estimate of $1.85.

Brown Forman Corporation (NYSE:BF.B) last issued its earnings results on Wednesday, August 30th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Brown Forman Corporation had a net margin of 17.29% and a return on equity of 51.93%. The business had revenue of $723 million during the quarter, compared to the consensus estimate of $690.38 million. During the same period last year, the business posted $0.36 EPS. Brown Forman Corporation’s revenue was up 9.4% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 7th will be given a dividend of $0.183 per share. The ex-dividend date is Wednesday, September 6th. This is an increase from Brown Forman Corporation’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of Infinity. Brown Forman Corporation’s dividend payout ratio (DPR) is 42.94%.

BF.B has been the subject of several research reports. Zacks Investment Research upgraded shares of Brown Forman Corporation from a hold rating to a buy rating and set a $55.00 price objective for the company in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a hold rating and set a $51.00 price objective on shares of Brown Forman Corporation in a research report on Monday, May 22nd. Citigroup Inc. downgraded shares of Brown Forman Corporation from a buy rating to a neutral rating in a research report on Wednesday, May 24th. Credit Suisse Group downgraded shares of Brown Forman Corporation from an outperform rating to a neutral rating and raised their price objective for the stock from $51.00 to $53.00 in a research report on Wednesday, June 7th. Finally, Societe Generale downgraded shares of Brown Forman Corporation from a hold rating to a sell rating in a research report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Brown Forman Corporation has an average rating of Hold and an average target price of $50.71.

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About Brown Forman Corporation

Brown-Forman Corporation is a spirit and wine company. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages. The Company has a portfolio of approximately 40 spirit, wine and ready-to-drink cocktail (RTD) brands. Its principal brands include Jack Daniel’s Tennessee Whiskey, Jack Daniel’s RTDs, Jack Daniel’s Tennessee Honey, Gentleman Jack Rare Tennessee Whiskey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Single Barrel Collection, Jack Daniel’s Sinatra Select, Jack Daniel’s Winter Jack, Jack Daniel’s No.

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