Earnings Previews: Constellation Brands, Field Trip Health, NovaGold, Walgreens

The three major U.S. equity indexes closed lower Monday, with the Nasdaq dipping by 0.72%, the S&P 500 sliding 0.3% and the Dow Jones industrials closing down 0.2%. The only sectors to close the day with gains were energy (2.9%), utilities (0.8%) and health care (0.4%). All three indexes traded up by less than 1% in Tuesday’s premarket session.

After markets closed on Monday, Dow component Nike beat estimates for both profits and revenue. Shares traded down 2.5% in Tuesday’s premarket due to lowered revenue guidance for the August quarter. Even a $3 billion boost (to $18 billion) in share buybacks did not completely sway investors. reported a smaller than expected loss, and revenue came in as expected. The stock traded up more than 16% on news that the Chinese government relaxed its COVID-19 quarantine rules. China’s airline stocks also saw a boost from the change.

We already have previewed four companies on deck to report quarterly results before markets open on Wednesday: Bed Bath & Beyond, General Mills, Paychex and Schnitzer Steel.

Here is a look at four companies scheduled to release quarterly results late Wednesday or early Thursday.

Constellation Brands

Constellation Brands Inc. (NYSE: STZ) produces, imports and sells beer, wine and spirits in the United States and other countries. With a market cap of around $46.3 billion, it is the country’s largest publicly traded alcoholic beverage stock. The shares have added about 9.7% to their value over the past 12 months, following a spurt two weeks ago.

Constellation’s free cash flow over the past four quarters was nearly $1.7 billion, and even though the company recently raised its dividend payment, shareholders would probably like to hear about a better return on their investment. The company reports results first thing Thursday morning.

Of 24 analysts covering the company, 17 rate the stock a Buy or Strong Buy and the other seven have Hold ratings. At a recent share price of around $247.40, the upside potential based on a median price target of $272.00 is 9.9%. At the high price target of $305.00, the upside potential rises to 23.3%.

Analysts expect Constellation to report fiscal first-quarter revenue of $2.16 billion, which would be up 2.9% sequentially and by 6.4% year over year. Adjusted earnings per share (EPS) are pegged at $2.52, up 6.5% sequentially and 8.2% year over year. For the full 2023 fiscal year ending in February, estimates call for EPS of $11.13, up by 9.1%, and revenue of $9.39 billion, up 6.5%.

The stock trades at 22.6 times expected 2023 EPS, 19.7 times estimated 2024 earnings of $12.74 and 17.4 times estimated 2025 earnings of $14.42 per share. The stock’s 52-week range is $207.35 to $261.52. Constellation pays an annual dividend of $3.20 (yield of 1.41%). Total shareholder return for the past 12 months is 9.7%.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.