Molson Coors Brewing Company (TAP) Scheduled to Post Quarterly Earnings on Wednesday
Molson Coors Brewing Company (NYSE:TAP) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $1.96 per share for the quarter.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.38). Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the company earned $1.11 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, analysts expect Molson Coors Brewing to post $4.34 EPS for the current fiscal year and $4.78 EPS for the next fiscal year.
Shares of Molson Coors Brewing Company (NYSE TAP) opened at 83.57 on Wednesday. Molson Coors Brewing Company has a 12 month low of $80.92 and a 12 month high of $109.37. The firm has a 50-day moving average price of $84.46 and a 200-day moving average price of $89.24. The company has a market capitalization of $17.99 billion, a PE ratio of 8.35 and a beta of 0.88.
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TAP has been the topic of several recent analyst reports. Zacks Investment Research lowered Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. Cowen and Company reiterated a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a research note on Thursday, September 28th. BidaskClub upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, UBS AG reiterated a “neutral” rating and issued a $98.00 price target (up previously from $96.00) on shares of Molson Coors Brewing in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $98.80.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the transaction, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.76% of the company’s stock.
About Molson Coors Brewing
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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