Q3 2019 EPS Estimates for Brown Forman Corporation Increased by SunTrust Banks (BF.B)
Brown Forman Corporation (NYSE:BF.B) – Analysts at SunTrust Banks boosted their Q3 2019 EPS estimates for Brown Forman in a report released on Wednesday. SunTrust Banks analyst W. Chappell now expects that the company will post earnings of $0.57 per share for the quarter, up from their previous estimate of $0.56. SunTrust Banks has a “Hold” rating and a $50.00 price objective on the stock.
Brown Forman (NYSE:BF.B) last posted its quarterly earnings data on Wednesday, December 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.09. Brown Forman had a net margin of 18.39% and a return on equity of 53.15%. The company had revenue of $914.00 million for the quarter, compared to the consensus estimate of $870.60 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue was up 10.1% compared to the same quarter last year.
Several other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Brown Forman 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. Pivotal Research reiterated a “buy” rating and set a $62.00 target price on shares of Brown Forman in a research report on Monday, September 4th. Berenberg Bank restated a “hold” rating and issued a $46.00 price target on shares of Brown Forman in a research report on Monday, September 18th. Cowen restated a “hold” rating and issued a $52.00 price target on shares of Brown Forman in a research report on Thursday, August 24th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $69.00 price target (up from $49.00) on shares of Brown Forman in a research report on Wednesday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $55.90.
Shares of Brown Forman (NYSE BF.B) traded down $0.11 during trading on Monday, hitting $65.34. 1,061,276 shares of the stock traded hands, compared to its average volume of 922,031. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.24 and a current ratio of 2.53. Brown Forman has a 1-year low of $43.72 and a 1-year high of $67.98. The firm has a market cap of $35,900.00, a price-to-earnings ratio of 34.17 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Thursday, December 7th will be paid a dividend of $0.198 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Brown Forman’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, December 6th. Brown Forman’s payout ratio is 41.15%.
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About Brown Forman
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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