Molson Coors Brewing Company (TAP) Expected to Announce Quarterly Sales of $3.00 Billion
Equities analysts expect Molson Coors Brewing Company (NYSE:TAP) to announce sales of $3.00 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Molson Coors Brewing ‘s earnings, with the lowest sales estimate coming in at $2.96 billion and the highest estimate coming in at $3.04 billion. Molson Coors Brewing reported sales of $947.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 216.6%. The business is expected to report its next earnings report before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that Molson Coors Brewing will report full-year sales of $3.00 billion for the current fiscal year, with estimates ranging from $11.07 billion to $11.26 billion. For the next fiscal year, analysts expect that the company will post sales of $11.37 billion per share, with estimates ranging from $11.27 billion to $11.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Molson Coors Brewing .
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.38). The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.11 earnings per share.
Several equities analysts have recently issued reports on the stock. Credit Suisse Group set a $96.00 target price on shares of Molson Coors Brewing and gave the company a “hold” rating in a report on Thursday, August 3rd. BidaskClub upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. UBS AG restated a “neutral” rating and issued a $98.00 price objective (up from $96.00) on shares of Molson Coors Brewing in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Berenberg Bank assumed coverage on shares of Molson Coors Brewing in a report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing presently has a consensus rating of “Hold” and a consensus price target of $98.80.
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In other news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the completion of the sale, the chief executive officer now owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.76% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of Molson Coors Brewing by 26.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,581,382 shares of the company’s stock valued at $222,877,000 after acquiring an additional 537,767 shares during the period. Principal Financial Group Inc. boosted its holdings in Molson Coors Brewing by 1.3% in the 2nd quarter. Principal Financial Group Inc. now owns 279,587 shares of the company’s stock worth $24,140,000 after buying an additional 3,476 shares during the period. Hancock Holding Co. bought a new position in Molson Coors Brewing in the 2nd quarter worth $1,612,000. Schwab Charles Investment Management Inc. boosted its holdings in Molson Coors Brewing by 3.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 573,970 shares of the company’s stock worth $49,557,000 after buying an additional 17,562 shares during the period. Finally, Delta Lloyd Asset Management N.V. bought a new position in Molson Coors Brewing in the 2nd quarter worth $2,811,000. 78.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Molson Coors Brewing (NYSE:TAP) opened at 83.25 on Monday. The stock has a market capitalization of $17.93 billion, a P/E ratio of 8.32 and a beta of 0.88. The stock has a 50 day moving average price of $84.66 and a 200 day moving average price of $89.50. Molson Coors Brewing has a 52 week low of $80.92 and a 52 week high of $109.37.
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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