$2.43 Billion in Sales Expected for Molson Coors Brewing Co (TAP) This Quarter

Analysts predict that Molson Coors Brewing Co (NYSE:TAP) will announce $2.43 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Molson Coors Brewing’s earnings. The lowest sales estimate is $2.38 billion and the highest is $2.46 billion. Molson Coors Brewing reported sales of $2.45 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, May 2nd.

On average, analysts expect that Molson Coors Brewing will report full-year sales of $11.11 billion for the current financial year, with estimates ranging from $10.95 billion to $11.20 billion. For the next year, analysts forecast that the firm will report sales of $11.22 billion per share, with estimates ranging from $11.06 billion to $11.37 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Molson Coors Brewing.

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Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis.

Several brokerages recently commented on TAP. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target on shares of Molson Coors Brewing in a research report on Thursday. Goldman Sachs cut Molson Coors Brewing from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $73.55 to $83.00 in a research report on Tuesday, April 17th. Citigroup dropped their price target on Molson Coors Brewing from $102.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, April 5th. Zacks Investment Research cut Molson Coors Brewing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Susquehanna Bancshares set a $107.00 price target on Molson Coors Brewing and gave the stock a “buy” rating in a research report on Monday, February 12th. Eight 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. The stock currently has a consensus rating of “Buy” and an average target price of $93.68.

A number of large investors have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its holdings in Molson Coors Brewing by 58.2% in 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 in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Molson Coors Brewing by 1.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 73,757 shares of the company’s stock valued at $6,053,000 after buying an additional 748 shares in the last quarter. Advisor Partners LLC grew its holdings in Molson Coors Brewing by 28.5% in the 4th quarter. Advisor Partners LLC now owns 3,811 shares of the company’s stock valued at $319,000 after buying an additional 846 shares in the last quarter. Meridian Investment Counsel Inc. lifted its stake in shares of Molson Coors Brewing by 2.2% in the 4th quarter. Meridian Investment Counsel Inc. now owns 42,454 shares of the company’s stock valued at $3,484,000 after purchasing an additional 903 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in shares of Molson Coors Brewing by 11.0% in the 4th quarter. Global X Management Co. LLC now owns 9,177 shares of the company’s stock valued at $753,000 after purchasing an additional 909 shares during the last quarter. Institutional investors own 77.10% of the company’s stock.

Shares of TAP traded up $1.54 during trading hours on Monday, hitting $71.92. 2,473,571 shares of the stock were exchanged, compared to its average volume of 1,788,886. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.47 and a current ratio of 0.64. Molson Coors Brewing has a 12-month low of $70.05 and a 12-month high of $97.50. The stock has a market capitalization of $15,170.83, a price-to-earnings ratio of 16.09, a PEG ratio of 1.62 and a beta of 0.81.

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About Molson Coors Brewing

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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