Brown-Forman (NASDAQ:BF/B) Issues FY 2020 Earnings Guidance

Brown-Forman (NASDAQ:BF/B) updated its FY 2020 earnings guidance on Wednesday. The company provided EPS guidance of $1.75-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.79. The company issued revenue guidance of $3.4902-3.55668 billion, compared to the consensus revenue estimate of $3.5 billion.

A number of analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Brown-Forman from $52.00 to $55.00 and gave the stock a market perform rating in a report on Thursday. SunTrust Banks lifted their target price on shares of Brown-Forman from $50.00 to $55.00 and gave the stock a hold rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Brown-Forman from $54.00 to $60.00 and gave the stock a neutral rating in a research note on Thursday. Deutsche Bank lifted their target price on shares of Brown-Forman from $53.00 to $54.00 and gave the stock a hold rating in a research note on Thursday, May 30th. Finally, Morgan Stanley lifted their target price on shares of Brown-Forman from $51.00 to $56.00 and gave the stock an equal weight rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, Brown-Forman presently has an average rating of Hold and a consensus target price of $57.14.

BF/B opened at $58.99 on Friday. The firm’s fifty day moving average price is $56.14.

The firm also recently announced a dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.166 dividend. The ex-dividend date is Thursday, September 5th.

Brown-Forman Company Profile

Brown-Forman Corporation manufactures, bottles, imports, exports, markets, and sells various alcoholic beverages worldwide. It provides spirits, wines, ready-to-drink cocktails, whiskeys, vodkas, tequilas, champagnes, brandy, and liqueurs. The company offers its products primarily under the Jack Daniel's, Gentleman Jack, Woodford Reserve, Korbel, Finlandia, el Jimador, Herradura, Sonoma-Cutrer, Canadian Mist, GlenDronach, BenRiach, Glenglassaugh, Chambord, Old Forester, Early Times, Pepe Lopez, Antiguo, Slane Irish, and Coopers' Craft brands.

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