Equities research analysts forecast that Molson Coors Brewing Co (NYSE:TAP) will report sales of $2.86 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Molson Coors Brewing’s earnings, with the lowest sales estimate coming in at $2.83 billion and the highest estimate coming in at $2.88 billion. Molson Coors Brewing posted sales of $2.93 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.4%. The business is expected to report its next earnings report on Wednesday, October 30th.
On average, analysts expect that Molson Coors Brewing will report full year sales of $10.60 billion for the current year, with estimates ranging from $10.54 billion to $10.67 billion. For the next financial year, analysts expect that the company will report sales of $10.57 billion, with estimates ranging from $10.43 billion to $10.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Molson Coors Brewing.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.13). Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the firm posted $1.88 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis.
A number of research firms have weighed in on TAP. Bryan, Garnier & Co reaffirmed a “sell” rating and issued a $51.00 price objective on shares of Molson Coors Brewing in a report on Thursday, August 1st. BMO Capital Markets lifted their price objective on shares of Molson Coors Brewing to $65.00 in a report on Thursday, August 1st. Credit Suisse Group began coverage on shares of Molson Coors Brewing in a report on Monday, June 10th. They issued an “underperform” rating and a $50.00 price objective for the company. Guggenheim cut their price objective on shares of Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Finally, ValuEngine cut shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a report on Wednesday. Five research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $63.33.
Several hedge funds have recently added to or reduced their stakes in TAP. Icon Wealth Partners LLC purchased a new stake in Molson Coors Brewing during the 1st quarter valued at about $27,000. Synovus Financial Corp purchased a new stake in Molson Coors Brewing during the 1st quarter valued at about $30,000. Ossiam purchased a new stake in Molson Coors Brewing during the 2nd quarter valued at about $31,000. Capital Bank & Trust Co purchased a new stake in Molson Coors Brewing during the 2nd quarter valued at about $39,000. Finally, Coastal Investment Advisors Inc. grew its stake in Molson Coors Brewing by 62.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 762 shares of the company’s stock valued at $44,000 after acquiring an additional 293 shares in the last quarter. 76.27% of the stock is owned by institutional investors and hedge funds.
TAP traded up $0.92 on Tuesday, reaching $57.17. The stock had a trading volume of 1,359,640 shares, compared to its average volume of 1,407,315. Molson Coors Brewing has a 12-month low of $49.92 and a 12-month high of $67.62. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $52.75 and its two-hundred day moving average price is $56.99. The company has a market cap of $12.17 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 2.37 and a beta of 0.76.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from Molson Coors Brewing’s previous quarterly dividend of $0.41. Molson Coors Brewing’s payout ratio is currently 45.24%.
About Molson Coors Brewing
Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.
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