$2.54 Billion in Sales Expected for Molson Coors Brewing Co (TAP) This Quarter

Equities research analysts predict that Molson Coors Brewing Co (NYSE:TAP) will report $2.54 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Molson Coors Brewing’s earnings, with the highest sales estimate coming in at $2.59 billion and the lowest estimate coming in at $2.50 billion. Molson Coors Brewing reported sales of $2.58 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The business is expected to issue its next earnings results on Wednesday, February 13th.

According to Zacks, analysts expect that Molson Coors Brewing will report full year sales of $10.89 billion for the current year, with estimates ranging from $10.85 billion to $10.94 billion. For the next fiscal year, analysts forecast that the business will post sales of $10.77 billion, with estimates ranging from $10.65 billion to $10.95 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Molson Coors Brewing.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, October 31st. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.25. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Molson Coors Brewing had a return on equity of 7.58% and a net margin of 12.05%. Molson Coors Brewing’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.34 EPS.

TAP has been the subject of several analyst reports. Citigroup lowered their target price on Molson Coors Brewing from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, August 27th. Morgan Stanley raised their target price on Molson Coors Brewing from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. Guggenheim initiated coverage on Molson Coors Brewing in a research report on Thursday, September 13th. They set a “neutral” rating and a $66.00 target price for the company. Standpoint Research initiated coverage on Molson Coors Brewing in a research report on Tuesday, October 23rd. They set a “buy” rating and a $72.00 target price for the company. Finally, ValuEngine raised Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Molson Coors Brewing currently has an average rating of “Hold” and a consensus target price of $75.36.

NYSE:TAP traded down $0.03 during trading hours on Friday, hitting $64.10. 703,400 shares of the company were exchanged, compared to its average volume of 2,105,584. The firm has a market cap of $13.84 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.85 and a beta of 0.56. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. Molson Coors Brewing has a one year low of $55.52 and a one year high of $85.86.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, November 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 36.69%.

In other news, insider Krishnan Anand sold 2,595 shares of Molson Coors Brewing stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $61.42, for a total value of $159,384.90. Following the completion of the transaction, the insider now directly owns 49,578 shares of the company’s stock, valued at approximately $3,045,080.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 7,785 shares of company stock valued at $499,512. Corporate insiders own 2.55% of the company’s stock.

Several hedge funds have recently bought and sold shares of TAP. Dodge & Cox grew its stake in shares of Molson Coors Brewing by 163.1% in the 3rd quarter. Dodge & Cox now owns 8,367,441 shares of the company’s stock valued at $514,598,000 after buying an additional 5,187,400 shares during the period. Fairpointe Capital LLC grew its stake in shares of Molson Coors Brewing by 42,908.9% in the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock valued at $93,643,000 after buying an additional 1,373,085 shares during the period. BlackRock Inc. grew its stake in shares of Molson Coors Brewing by 10.9% in the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock valued at $945,363,000 after buying an additional 1,367,047 shares during the period. Morgan Stanley grew its stake in shares of Molson Coors Brewing by 213.9% in the 3rd quarter. Morgan Stanley now owns 1,444,338 shares of the company’s stock valued at $88,828,000 after buying an additional 984,177 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Molson Coors Brewing in the 2nd quarter valued at about $66,077,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Brewing Company Profile

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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