Brown-Forman (BF.B) Issues FY19 Earnings Guidance
Brown-Forman (NYSE:BF.B) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $1.65-1.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.70. The company issued revenue guidance of +6-7% to ~$3.44-3.48 billion, compared to the consensus revenue estimate of $3.39 billion.
BF.B has been the subject of several analyst reports. Zacks Investment Research raised shares of Brown-Forman from a sell rating to a hold rating in a research note on Tuesday, September 25th. Pivotal Research reaffirmed a buy rating and set a $65.00 price objective on shares of Brown-Forman in a research note on Wednesday. Jefferies Financial Group began coverage on shares of Brown-Forman in a research note on Friday, September 7th. They set a hold rating for the company. Finally, Deutsche Bank upped their price objective on shares of Brown-Forman from $52.00 to $53.00 and gave the company a hold rating in a research note on Thursday, August 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $57.66.
Shares of NYSE:BF.B traded down $0.40 during trading on Thursday, reaching $46.26. 50,327 shares of the stock were exchanged, compared to its average volume of 1,099,164. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.35 and a current ratio of 3.02. Brown-Forman has a 12-month low of $45.63 and a 12-month high of $59.58. The stock has a market capitalization of $22.45 billion, a P/E ratio of 31.15, a PEG ratio of 3.09 and a beta of 0.85.
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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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