Brokerages forecast that Molson Coors Brewing Co (NYSE:TAP) will report $0.81 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Molson Coors Brewing’s earnings, with the highest EPS estimate coming in at $0.86 and the lowest estimate coming in at $0.74. Molson Coors Brewing reported earnings per share of $0.76 during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, May 2nd.
According to Zacks, analysts expect that Molson Coors Brewing will report full-year earnings of $5.12 per share for the current year, with EPS estimates ranging from $4.82 to $5.30. For the next year, analysts anticipate that the business will report earnings of $5.53 per share, with EPS estimates ranging from $5.28 to $5.80. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Molson Coors Brewing.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.60 billion. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded 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 research report on Monday, February 19th. Morgan Stanley assumed coverage on shares of Molson Coors Brewing in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $88.00 price objective for the company. Berenberg Bank upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 price objective for the company in a report on Thursday, February 8th. BMO Capital Markets started coverage on shares of Molson Coors Brewing in a research note on Monday, February 5th. They issued an “outperform” rating and a $95.00 price target for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target on shares of Molson Coors Brewing in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $93.68.
NYSE:TAP traded down $0.88 during mid-day trading on Friday, hitting $72.35. The company’s stock had a trading volume of 854,163 shares, compared to its average volume of 1,720,795. Molson Coors Brewing has a 1 year low of $72.07 and a 1 year high of $97.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.47 and a current ratio of 0.64. The firm has a market cap of $15,888.63, a price-to-earnings ratio of 16.38, a PEG ratio of 1.69 and a beta of 0.81.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Allied Advisory Services Inc. lifted its position in shares of Molson Coors Brewing by 25.8% in the third quarter. First Allied Advisory Services Inc. now owns 4,246 shares of the company’s stock worth $345,000 after purchasing an additional 870 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Molson Coors Brewing in the third quarter worth approximately $388,000. Cubist Systematic Strategies LLC raised its stake in Molson Coors Brewing by 178.3% in the third quarter. Cubist Systematic Strategies LLC now owns 18,977 shares of the company’s stock worth $1,549,000 after buying an additional 12,158 shares in the last quarter. California Public Employees Retirement System raised its stake in Molson Coors Brewing by 6.0% in the third quarter. California Public Employees Retirement System now owns 399,084 shares of the company’s stock worth $32,581,000 after buying an additional 22,684 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in Molson Coors Brewing in the third quarter worth approximately $3,058,000. Institutional investors own 77.11% of the company’s stock.
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About Molson Coors Brewing
Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.
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