NEW YORK (TheStreet) -- Shares of Brown-Forman Corp. (BF.B) closed lower by 3.91% to $92.25 on more than double its average trading volume Wednesday, after cutting its full year earnings outlook on dollar concerns.
The parent company of Jack Daniels lowered its earnings outlook for the full fiscal year of 2015 by 10 cents to a range of $3.15 to $3.35 per share, missing the $3.36 per share analysts are expecting.
The company said its lowered guidance reflects foreign-exchange concerns and the impact of a stronger U.S. dollar on its performance.
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The whiskey maker reported results for its fiscal second quarter ended October 31, 2014 with earnings of 97 cents per share on $1.13 billion in revenue, missing the $1.04 per share on $1.15 billion dollars in sales analysts were expecting for the period.
Separately, TheStreet Ratings team rates BROWN-FORMAN as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BROWN-FORMAN (BF.B) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
- You can view the full analysis from the report here: BF.B Ratings Report