If you're trying to build your earnings season watch list by looking for stocks setting up in a base ahead of their next quarterly report, here's one that fits the bill: Constellation Brands stock. It's expected to release its latest numbers around Jun. 30 and is trading approximately 6% below a 261.62 entry. The chart pattern is a first-stage flat base.
Buying a stock just ahead of earnings can be risky since you typically don't have enough time to build a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.
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Earnings grew 30% last quarter, up from 1% in the prior report. Revenue also increased, from -5% to 8%.
Analysts expect earnings growth of 8% for the quarter, and 9% growth for the full year.
Constellation Brands stock has a 93 Composite Rating and holds the No. 7 rank among its peers in the Beverages-Alcoholic industry group. MGP Ingredients, Molson Coors Bev Cl B and Brown Forman are among the top 5 highly rated stocks within the group.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
