Molson Coors Brewing (TAP) Posts Earnings Results, Beats Expectations By $0.06 EPS

Molson Coors Brewing (NYSE:TAP) issued its quarterly earnings results on Wednesday. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06, Morningstar.com reports. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year.

Molson Coors Brewing (TAP) opened at $75.70 on Wednesday. Molson Coors Brewing has a 1-year low of $72.71 and a 1-year high of $102.14. The firm has a market cap of $16,320.86, a P/E ratio of 7.31, a P/E/G ratio of 2.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.54.

In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the business’s 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 sale, the chairman now directly owns 319,222 shares in the company, valued at approximately $27,137,062.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Tracey Joubert sold 1,000 shares of the business’s 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 sale, the chief financial officer now owns 22,839 shares of the company’s stock, valued at $1,807,706.85. The disclosure for this sale can be found here. 2.76% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TAP. Dupont Capital Management Corp purchased a new stake in Molson Coors Brewing during the 3rd quarter valued at $103,000. Cerebellum GP LLC purchased a new stake in Molson Coors Brewing during the 4th quarter valued at $129,000. Meeder Asset Management Inc. purchased a new stake in Molson Coors Brewing during the 3rd quarter valued at $138,000. Valeo Financial Advisors LLC raised its stake in Molson Coors Brewing by 58.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock valued at $153,000 after buying an additional 686 shares during the last quarter. Finally, Advisor Group Inc. raised its stake in Molson Coors Brewing by 48.9% during the 3rd quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock valued at $213,000 after buying an additional 853 shares during the last quarter. Institutional investors and hedge funds own 76.90% of the company’s stock.

TAP has been the topic of a number of analyst reports. Zacks Investment Research raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Susquehanna Bancshares set a $108.00 price objective on shares of Molson Coors Brewing and gave the stock a “buy” rating in a report on Wednesday, November 1st. Berenberg Bank restated a “sell” rating and issued a $76.00 price objective on shares of Molson Coors Brewing in a report on Friday, November 3rd. Citigroup decreased 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 report on Friday, November 3rd. Finally, Deutsche Bank assumed coverage on shares of Molson Coors Brewing in a report on Wednesday, December 13th. They issued a “buy” rating and a $89.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Buy” and an average price target of $96.61.

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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.

Earnings History for Molson Coors Brewing (NYSE:TAP)

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