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 maintained the stock with a Buy and lowered the price target from $185 to $150.

Considering buying STZ stock? Here’s what analysts think:

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