Analysts predict that Molson Coors Brewing Co (NYSE:TAP) will report sales of $2.45 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Molson Coors Brewing’s earnings, with the lowest sales estimate coming in at $2.43 billion and the highest estimate coming in at $2.46 billion. Molson Coors Brewing also reported sales of $2.45 billion during the same quarter last year. The firm is scheduled to issue its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Molson Coors Brewing will report full-year sales of $2.45 billion for the current year, with estimates ranging from $11.05 billion to $11.20 billion. For the next year, analysts forecast that the business will post sales of $11.24 billion per share, with estimates ranging from $11.14 billion to $11.37 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Molson Coors Brewing.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year.
A number of analysts have recently issued reports on TAP shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $112.00 price objective on shares of Molson Coors Brewing in a report on Friday, February 2nd. Susquehanna Bancshares set a $107.00 price objective on shares of Molson Coors Brewing and gave the stock a “buy” rating in a report on Monday, February 12th. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Tuesday, January 2nd. Deutsche Bank initiated coverage on shares of Molson Coors Brewing in a report on Wednesday, December 13th. They set a “buy” rating and a $89.00 price objective for the company. Finally, Citigroup lowered their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing has an average rating of “Buy” and an average target price of $96.88.
In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total value of $4,726,811.03. Following the transaction, the chairman now owns 319,222 shares in the company, valued at $27,137,062.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tracey Joubert sold 1,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the transaction, the chief financial officer now owns 22,839 shares in the company, valued at approximately $1,807,706.85. The disclosure for this sale can be found here. Insiders sold 56,806 shares of company stock valued at $4,822,339 over the last three months. 2.76% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D purchased a new position in shares of Molson Coors Brewing in the third quarter valued at about $24,492,000. Toronto Dominion Bank increased its position in shares of Molson Coors Brewing by 16.1% in the third quarter. Toronto Dominion Bank now owns 72,691 shares of the company’s stock valued at $5,934,000 after acquiring an additional 10,087 shares during the period. CAPROCK Group Inc. increased its position in shares of Molson Coors Brewing by 38.8% in the fourth quarter. CAPROCK Group Inc. now owns 11,850 shares of the company’s stock valued at $1,006,000 after acquiring an additional 3,312 shares during the period. Commonwealth Equity Services Inc increased its position in shares of Molson Coors Brewing by 14.3% in the third quarter. Commonwealth Equity Services Inc now owns 11,632 shares of the company’s stock valued at $949,000 after acquiring an additional 1,457 shares during the period. Finally, South Dakota Investment Council increased its position in shares of Molson Coors Brewing by 16.0% in the third quarter. South Dakota Investment Council now owns 108,810 shares of the company’s stock valued at $8,883,000 after acquiring an additional 15,040 shares during the period. Hedge funds and other institutional investors own 77.05% of the company’s stock.
Molson Coors Brewing (NYSE:TAP) traded down $1.35 during midday trading on Friday, hitting $76.58. 1,301,749 shares of the stock were exchanged, compared to its average volume of 1,620,000. Molson Coors Brewing has a 52 week low of $72.71 and a 52 week high of $100.89. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.64 and a quick ratio of 0.47. The company has a market cap of $17,680.00, a P/E ratio of 16.94, a P/E/G ratio of 1.75 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, March 5th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, March 2nd. Molson Coors Brewing’s dividend payout ratio is presently 36.28%.
Molson Coors Brewing Company Profile
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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