Zacks: Brokerages Expect Molson Coors Brewing Co (TAP) Will Post Earnings of $0.57 Per Share

Brokerages forecast that Molson Coors Brewing Co (NYSE:TAP) will post earnings of $0.57 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Molson Coors Brewing’s earnings, with estimates ranging from $0.50 to $0.63. Molson Coors Brewing reported earnings of $0.46 per share during the same quarter last year, which suggests a positive year over year growth rate of 23.9%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, February 14th.

According to Zacks, analysts expect that Molson Coors Brewing will report full year earnings of $4.33 per share for the current fiscal year, with EPS estimates ranging from $4.27 to $4.40. For the next fiscal year, analysts forecast that the firm will post earnings of $4.96 per share, with EPS estimates ranging from $4.64 to $5.37. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Molson Coors Brewing.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.34. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. Molson Coors Brewing’s revenue was up 204.3% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share.

Several equities research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Molson Coors Brewing in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $88.00 price objective for the company. Susquehanna Bancshares reiterated a “buy” rating and set a $108.00 price objective (down from $118.00) on shares of Molson Coors Brewing in a research note on Friday, September 22nd. Citigroup lowered their price objective 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. Stifel Nicolaus reiterated a “buy” rating and set a $116.00 price objective on shares of Molson Coors Brewing in a research note on Friday, December 22nd. Finally, Zacks Investment Research downgraded shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $96.94.

Molson Coors Brewing (TAP) traded down $1.43 during trading hours on Friday, hitting $83.25. 1,719,500 shares of the stock traded hands, compared to its average volume of 1,350,567. Molson Coors Brewing has a 1-year low of $76.25 and a 1-year high of $102.14. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $19,390.00, a P/E ratio of 8.02, a P/E/G ratio of 2.19 and a beta of 0.83.

In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of Molson Coors Brewing stock in a transaction on Friday, December 1st. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the transaction, the chief financial officer now owns 22,839 shares of the company’s stock, valued at $1,807,706.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Peter H. Coors sold 55,603 shares of Molson Coors Brewing stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the transaction, the chairman now directly owns 319,222 shares of the company’s stock, valued at approximately $27,137,062.22. The disclosure for this sale can be found here. Insiders own 2.76% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TAP. Maverick Capital Ltd. purchased a new position in Molson Coors Brewing in the second quarter valued at $438,738,000. Epoch Investment Partners Inc. increased its stake in shares of Molson Coors Brewing by 852.1% during the third quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock worth $198,294,000 after purchasing an additional 2,173,761 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Molson Coors Brewing by 1,749.8% during the third quarter. TD Asset Management Inc. now owns 1,262,242 shares of the company’s stock worth $103,049,000 after purchasing an additional 1,194,006 shares in the last quarter. Independent Franchise Partners LLP increased its stake in shares of Molson Coors Brewing by 19.8% during the third quarter. Independent Franchise Partners LLP now owns 6,161,014 shares of the company’s stock worth $502,985,000 after purchasing an additional 1,017,035 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Molson Coors Brewing by 23.4% during the third quarter. Wells Fargo & Company MN now owns 3,185,329 shares of the company’s stock worth $260,048,000 after purchasing an additional 603,947 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

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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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