Constellation Brands Cuts FY24 EPS Outlook From $9.60 - $9.80 To $9.15 - $9.35
Portfolio Pulse from Benzinga Newsdesk
Constellation Brands has revised its FY24 earnings per share (EPS) guidance downward from the previous range of $9.60 - $9.80 to a new range of $9.15 - $9.35.
January 05, 2024 | 12:39 pm
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Constellation Brands has reduced its FY24 EPS guidance, which may lead to negative investor sentiment and a potential decrease in stock price in the short term.
A downward revision in earnings guidance is typically perceived negatively by the market as it suggests that the company may not perform as well as previously expected. This can lead to a decrease in investor confidence and a potential drop in the stock price. Given that this news is directly about Constellation Brands' financial outlook, it is highly relevant and important to investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100