Constellation Brands: S&P Intraday Laggard

NEW YORK ( TheStreet) -- Constellation Brands ( STZ) was the worst-performing stock in the S&P 500 Thursday morning.

The S&P 500 was down 2.32 points, or 0.17%, to 1,396.64 in recent trades. The index is up 11.3% so far in 2012, but is on pace for a decline of 0.8% during this holiday-shortened trading week. The U.S. stock market is closed on Friday for the Good Friday holiday.

Shares of Constellation Brands dropped 12.72% to $21.55. The wine and beer company forecast comparable earnings of $1.93 and $2.03 a share for fiscal 2012, below the current average estimate of analysts polled by Thomson Reuters for a profit of $2.23 a share,

Constellation Brands' shares trade at an estimated price-to-earnings ratio for next year of 9.26X; the average for distillers and vinters is 17.5X. For comparison, both Beam ( BEAM) and Brown-Forman ( BF.A) trade at higher forward P/Es of 22.27X and 20.96X, respectively.

Seven of the 13 analysts who cover Constellation Brands rate it at buy. Five analysts give the stock a hold rating and one rates it at sell.

TheStreet Ratings gives Constellation Brands a B grade with a buy rating and $27.28 price target. The stock has risen 4.11% year to date.

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-- Written by Alexandra Zendrian in New York.

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