Molson Coors Brewing Company (TAP) Issues Earnings Results
Molson Coors Brewing Company (NYSE:TAP) released its earnings results on Wednesday. The company reported $1.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.34, Bloomberg Earnings reports. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.97 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The company’s revenue was up 204.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS.
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TAP has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $111.00 target price on shares of Molson Coors Brewing in a report on Friday, July 14th. Cowen and Company reissued a “hold” rating and set a $96.00 price objective on shares of Molson Coors Brewing in a report on Friday, July 14th. Susquehanna Bancshares Inc reissued a “buy” rating on shares of Molson Coors Brewing in a report on Wednesday, August 2nd. Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, UBS AG reissued a “neutral” rating and set a $98.00 price objective (up previously from $96.00) on shares of Molson Coors Brewing in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing presently has an average rating of “Hold” and an average target price of $98.80.
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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