Molson Coors Brewing Co (TAP) Expected to Announce Quarterly Sales of $2.60 Billion

Wall Street analysts expect that Molson Coors Brewing Co (NYSE:TAP) will post sales of $2.60 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Molson Coors Brewing’s earnings, with the highest sales estimate coming in at $2.64 billion and the lowest estimate coming in at $2.57 billion. Molson Coors Brewing posted sales of $2.29 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.5%. The company is expected to issue its next earnings report before the market opens on Wednesday, February 14th.

According to Zacks, analysts expect that Molson Coors Brewing will report full-year sales of $2.60 billion for the current fiscal year, with estimates ranging from $10.99 billion to $11.06 billion. For the next year, analysts anticipate that the business will post sales of $11.17 billion per share, with estimates ranging from $11.10 billion to $11.22 billion. Zacks Investment Research’s sales averages 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 quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.34. Molson Coors Brewing had a net margin of 9.93% and a return on equity of 9.14%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was up 204.3% on a year-over-year basis.

Several equities analysts have issued reports on TAP shares. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, January 2nd. Stifel Nicolaus restated a “buy” rating and issued a $116.00 price target on shares of Molson Coors Brewing in a research report on Friday, December 22nd. Deutsche Bank started coverage on shares of Molson Coors Brewing in a research report on Wednesday, December 13th. They issued a “buy” rating and a $89.00 price target for the company. Citigroup decreased their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Finally, Susquehanna Bancshares restated a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Molson Coors Brewing presently has an average rating of “Hold” and an average price target of $96.94.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. National Asset Management Inc. increased its position in shares of Molson Coors Brewing by 8.1% during the second quarter. National Asset Management Inc. now owns 2,868 shares of the company’s stock worth $248,000 after buying an additional 215 shares during the period. WFG Advisors LP increased its position in shares of Molson Coors Brewing by 14.0% during the second quarter. WFG Advisors LP now owns 3,938 shares of the company’s stock worth $340,000 after buying an additional 483 shares during the period. First Allied Advisory Services Inc. increased its position in shares of Molson Coors Brewing by 22.4% during the second quarter. First Allied Advisory Services Inc. now owns 3,376 shares of the company’s stock worth $291,000 after buying an additional 617 shares during the period. Hermes Investment Management Ltd. increased its position in shares of Molson Coors Brewing by 9.4% during the third quarter. Hermes Investment Management Ltd. now owns 7,738 shares of the company’s stock worth $632,000 after buying an additional 666 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of Molson Coors Brewing by 37.3% during the third quarter. Citizens Financial Group Inc. RI now owns 2,899 shares of the company’s stock worth $237,000 after buying an additional 787 shares during the period. Institutional investors own 77.67% of the company’s stock.

Molson Coors Brewing (TAP) opened at $83.77 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.54. Molson Coors Brewing has a 12-month low of $76.25 and a 12-month high of $102.14. The stock has a market cap of $19,390.00, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 2.15 and a beta of 0.83.

ILLEGAL ACTIVITY NOTICE: “Molson Coors Brewing Co (TAP) Expected to Announce Quarterly Sales of $2.60 Billion” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2018/01/21/molson-coors-brewing-co-tap-expected-to-announce-quarterly-sales-of-2-60-billion-2.html.

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.

Get a free copy of the Zacks research report on Molson Coors Brewing (TAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Molson Coors Brewing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply