Brokerages forecast that Molson Coors Brewing Co (NYSE:TAP) will report $2.50 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Molson Coors Brewing’s earnings. The lowest sales estimate is $2.48 billion and the highest is $2.52 billion. Molson Coors Brewing posted sales of $2.42 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The business is expected to issue its next earnings results on Tuesday, February 11th.
According to Zacks, analysts expect that Molson Coors Brewing will report full year sales of $10.60 billion for the current fiscal year, with estimates ranging from $10.57 billion to $10.61 billion. For the next financial year, analysts anticipate that the company will report sales of $10.50 billion, with estimates ranging from $10.46 billion to $10.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Molson Coors Brewing.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, October 30th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. Berenberg Bank reiterated a “hold” rating and set a $51.00 target price on shares of Molson Coors Brewing in a research note on Friday, November 1st. Deutsche Bank decreased their target price on shares of Molson Coors Brewing from $56.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Barclays cut shares of Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $59.00 to $54.00 in a report on Monday, November 25th. Citigroup set a $60.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets cut shares of Molson Coors Brewing from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $62.00 to $55.00 in a report on Tuesday, November 26th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $55.75.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in Molson Coors Brewing by 1,000.0% during the third quarter. CWM LLC now owns 550 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Ossiam purchased a new position in Molson Coors Brewing in the second quarter valued at about $31,000. Parkside Financial Bank & Trust increased its holdings in Molson Coors Brewing by 141.3% in the third quarter. Parkside Financial Bank & Trust now owns 567 shares of the company’s stock valued at $33,000 after buying an additional 332 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new position in Molson Coors Brewing in the third quarter valued at about $35,000. Finally, Capital Bank & Trust Co purchased a new position in Molson Coors Brewing in the second quarter valued at about $39,000. 77.77% of the stock is owned by hedge funds and other institutional investors.
Shares of TAP traded down $0.55 during mid-day trading on Wednesday, hitting $50.81. 1,593,374 shares of the company’s stock were exchanged, compared to its average volume of 1,429,329. Molson Coors Brewing has a fifty-two week low of $49.82 and a fifty-two week high of $67.24. The firm has a market capitalization of $11.07 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.98 and a beta of 0.74. The business’s 50 day moving average is $52.57 and its two-hundred day moving average is $54.32. The company has a current ratio of 0.59, a quick ratio of 0.42 and a debt-to-equity ratio of 0.60.
The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date was Friday, November 29th. This represents a $2.28 annualized dividend and a yield of 4.49%. Molson Coors Brewing’s dividend payout ratio is currently 45.24%.
Molson Coors Brewing Company Profile
Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.
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