Brown Forman Corporation’s (BF.B) “Hold” Rating Reaffirmed at Cowen and Company
Cowen and Company restated their hold rating on shares of Brown Forman Corporation (NYSE:BF.B) in a research note issued to investors on Thursday morning. They currently have a $54.00 price objective on the stock.
Other research analysts have also issued reports about the company. Pivotal Research reaffirmed a buy rating and issued a $62.00 target price on shares of Brown Forman Corporation in a research report on Monday, September 4th. Zacks Investment Research raised Brown Forman Corporation from a hold rating to a buy rating and set a $57.00 target price on the stock in a research report on Thursday, August 31st. Berenberg Bank reaffirmed a hold rating and issued a $46.00 target price on shares of Brown Forman Corporation in a research report on Monday, September 18th. Royal Bank Of Canada reaffirmed a hold rating on shares of Brown Forman Corporation in a research report on Thursday, July 27th. Finally, SunTrust Banks, Inc. reaffirmed a hold rating and issued a $50.00 target price on shares of Brown Forman Corporation in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Brown Forman Corporation currently has a consensus rating of Hold and an average target price of $52.40.
Brown Forman Corporation (NYSE:BF.B) last issued its earnings results on Wednesday, August 30th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.07. Brown Forman Corporation had a return on equity of 53.63% and a net margin of 17.84%. The company had revenue of $723.00 million for the quarter, compared to analyst estimates of $690.38 million. During the same period in the prior year, the firm posted $0.36 EPS. The business’s revenue was up 9.4% compared to the same quarter last year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 7th were issued a dividend of $0.183 per share. This is a positive change from Brown Forman Corporation’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.73 dividend on an annualized basis and a dividend yield of Infinity. Brown Forman Corporation’s dividend payout ratio is currently 40.56%.
Brown Forman Corporation Company Profile
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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