In its upcoming report, Constellation Brands (STZ) is predicted by Wall Street analysts to post quarterly earnings of $2.27 per share, reflecting an increase of 0.4% compared to the same period last year. Revenues are forecasted to be $2.13 billion, representing a year-over-year decrease of 0.4%.

Over the last 30 days, there has been a downward revision of 2.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

With that in mind, let's delve into the average projections of some Constellation Brands metrics that are commonly tracked and projected by analysts on Wall Street.

The consensus estimate for 'Net Sales- Wine and Spirits' stands at $406.65 million. The estimate points to a change of -6.8% from the year-ago quarter.

Based on the collective assessment of analysts, 'Net Sales- Beer' should arrive at $1.74 billion. The estimate indicates a year-over-year change of +2.1%.

The consensus among analysts is that 'Operating Income- Wine and Spirits' will reach $89.71 million. Compared to the present estimate, the company reported $111.10 million in the same quarter last year.

The average prediction of analysts places 'Operating Income- Beer' at $617.69 million. The estimate is in contrast to the year-ago figure of $585.40 million.

View all Key Company Metrics for Constellation Brands here>>>

Constellation Brands shares have witnessed a change of +1.4% in the past month, in contrast to the Zacks S&P 500 composite's -7.7% move. With a Zacks Rank #3 (Hold), STZ is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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This article originally published on Zacks Investment Research (zacks.com).

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