Constellation Brands, Inc. (STZ) is set to release third-quarter earnings results after Wednesday's closing bell, and Wall Street's most accurate analysts have been busy adjusting their expectations downward.

The consensus estimate calls for earnings of $2.64 per share, which would represent a decline from $3.25 per share in the same quarter last year. Revenue is expected to come in at $2.16 billion, down from $2.46 billion a year earlier. These numbers matter because they set the bar for whether the beverage giant beats or misses expectations.

The company last reported on October 6, when it delivered better-than-expected second-quarter results. Shares gained 2.3% on Friday to close at $141.17, but the stock has faced pressure as analysts reassess their outlook.

What the Most Accurate Analysts Are Saying

Here's how the top-rated analysts have positioned themselves heading into the earnings call:

Piper Sandler's Michael Lavery, who has a 63% accuracy rate, maintained a Neutral rating on November 21 while cutting his price target from $155 to $135. That's a roughly 13% reduction in expectations.

Barclays analyst Lauren Lieberman (59% accuracy rate) kept an Equal-Weight rating on October 9 but lowered her target from $150 to $147.

JP Morgan's Andrea Teixeira (58% accuracy) stuck with a Neutral rating on October 8 while slashing the price target from $173 to $153, representing one of the more substantial cuts at about 12%.

Morgan Stanley's Dara Mohsenian stands out with the highest accuracy rate at 70%. On October 7, he maintained an Equal-Weight rating but made the largest absolute cut, dropping his target from $176 to $160.

Goldman Sachs analyst Bonnie Herzog (66% accuracy) remains the most optimistic of the group, maintaining a Buy rating despite reducing her price target from $196 to $168 on October 2. That's still notably above where Constellation currently trades.

The pattern is clear: even analysts with strong track records on this stock have been recalibrating expectations. The fact that all five made downward revisions within roughly a month suggests they're seeing similar headwinds in the business, whether that's consumer spending patterns, competitive pressures, or margin concerns.

Investors will get answers when Constellation Brands (STZ) reports on Wednesday. The question is whether management can deliver results that change this cautious narrative.