Constellation Brands (STZ) is scheduled to report Q2 results tomorrow morning with a conference call which should begin around 11:30 a.m. ET.

The current Capital IQ Consensus Estimate for Q2 calls for EPS of $2.51 (vs $2.91 a year ago) on sales declines of about -6.6% to $2.18 bln.

TECHS:

Based on the weekly Oct02 $190 straddle, the options market is pricing in a move of 5% in either direction by weekly expiration (Friday).

STZ steps into the Q2 print garnering a nearly $31.8 bln market capitalization, trading at roughly 20.5x forward earnings estimates, a slight discount to peers KO at 25.4x, PEP at 24.2x, and DEO at 24.3x, though Molson Coors Brewing (TAP) at 9.7x is comparatively much cheaper.

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