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Brown-Forman Q2 Profit Rises; Lifts FY Profit View

08 December 2017

But shares of Brown-Forman have climbed since late August, when the company raised its full-year EPS forecast and delivered estimate-topping first-quarter earnings, marking what Zacks analysts called a rebound from a "dismal" prior quarter. Brown Forman has a 52 week low of $43.72 and a 52 week high of $67.98.

A number of analysts recently issued reports on BF.B shares. Pivotal Research reissued a "buy" rating and issued a $62.00 price objective on shares of Brown Forman in a research note on Monday, September 4th.

At the moment 16 analysts are watching Brown Forman Corporation (NASDAQ:BF.B), 1 rate it "Buy", 0 "Outperform", 12 "Underperform", 3 "Sell", while 0 "Hold".

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Total shares held by institutions as of the most recent company filings are 58,589,007 with a reported 3,424,224 bought and 2,998,416 sold. The company had revenue of $914.00 million for the quarter, compared to analysts' expectations of $870.60 million. SunTrust Banks reaffirmed a "hold" rating and issued a $50.00 price objective on shares of Brown Forman in a research note on Friday, October 6th. Brown Forman had a return on equity of 53.63% and a net margin of 17.84%. Berenberg Bank reissued a "hold" rating and issued a $46.00 target price on shares of Brown Forman in a research report on Monday, September 18th. The stock has a market cap of $23,910.00, a price-to-earnings ratio of 34.30 and a beta of 0.95.

The company has a debt-to-equity ratio of 1.21, a current ratio of 2.30 and a quick ratio of 1.07. The business's revenue was up 10.1% compared to the same quarter past year.

The biggest institutional shareholders in Brown Forman Corporation include Vanguard Group Inc which owns 14 million shares in the company valued at $693.16 million.

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Looking ahead, Brown Forman said it now expects fiscal FY underlying net sales growth of 6% to 7%, up from previously 4% to 5%, and diluted EPS of $1.90 to $1.98, up from previously $1.85 to $1.95 and mostly above the $1.91 consensus.

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Brown-Forman CEO Paul Varga said the company's strongest growth is coming from countries like Mexico and Poland, as opposed to the more mature US market. The Company has a portfolio of approximately 40 spirit, wine and ready-to-drink cocktail (RTD) brands. The company reported "balanced growth" from its flagship Jack Daniel's brands.

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