During the past week, traders made the S&P 500 rally again and reach another record peak, this means that the second-quarter would be very fruitful, bringing more profit, especially taking in account when the reopening U.S. economy and people coming back to work.
Overall, the stock market gauge touched its fourth quarterly high in sequence last week, inspired by an additional rebound in the technology stocks sector. Most surely, traders and investors see more solid reasons to preserve bullish mood this week after Friday’s positive jobs announcement for March.
It was recorded that the U.S. employers had additional 916,000 jobs as for the past month, surpassing the 660,000 amount that experts had forecasted. The March jobs report proves projections that the economic recovery is getting another momentum as the vaccination rollouts continue growing.
Below we focus on a stock that is being fueled by positive signs on the macro front and which would most likely become a good pick for your portfolio, especially bearing in mind that Constellation Brands is going to report its earnings this week.
The U.S.-headquartered maker of Corona beer, Constellation Brands (NYSE:STZ), is going to share its Q4 2021 earnings release before the market opens on Thursday, April 8th. Experts are forecasting earnings per share of $1.55 on sales of $1.86 billion.
In the previous earnings report Constellation shared more than 22% growth in sales and a 44% boost in earnings per share when compared with the same period a year ago.
Sales are boosting since the Victor, New York-located wine, beer and spirits maker, successfully manages the unstable operating environment it faced during the pandemic by counterbalancing the decrease in on-premise, restaurant and bar sales with off-premise, or retail, sales in its beer business. As CEO Bill Newlands said in January:
“We’ve got the brands that are in demand and one of the things that people do when they’re buying for home is they stick with things that they know and they stick with things that they trust, and we have brands that people trust.”
This statement had proven to be true since then as well. STZ shares are trending close to a record high after soaring around 75% during the past year. They ended trading on Thursday at $229.62.