Zacks: Analysts Anticipate Molson Coors Brewing Co (NYSE:TAP) Will Post Quarterly Sales of $2.47 Billion

Wall Street brokerages expect Molson Coors Brewing Co (NYSE:TAP) to announce $2.47 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Molson Coors Brewing’s earnings, with the lowest sales estimate coming in at $2.44 billion and the highest estimate coming in at $2.52 billion. Molson Coors Brewing posted sales of $2.95 billion during the same quarter last year, which suggests a negative year over year growth rate of 16.3%. The firm is scheduled to announce its next earnings results on Wednesday, July 29th.

On average, analysts expect that Molson Coors Brewing will report full year sales of $9.67 billion for the current financial year, with estimates ranging from $9.51 billion to $9.95 billion. For the next year, analysts expect that the firm will report sales of $9.86 billion, with estimates ranging from $9.73 billion to $10.11 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Molson Coors Brewing.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Molson Coors Brewing had a negative net margin of 0.21% and a positive return on equity of 7.01%. Molson Coors Brewing’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share.

A number of equities research analysts have weighed in on the stock. Consumer Edge cut shares of Molson Coors Brewing from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 30th. TheStreet upgraded shares of Molson Coors Brewing from a “c” rating to a “b-” rating in a report on Wednesday, February 12th. Morgan Stanley cut their price objective on shares of Molson Coors Brewing from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. MKM Partners cut their price objective on shares of Molson Coors Brewing from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Industrial Alliance Securities cut shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a report on Wednesday, May 13th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $48.93.

In related news, Vice Chairman Peter H. Coors sold 67,079 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $51.22, for a total transaction of $3,435,786.38. Following the transaction, the insider now owns 311,958 shares in the company, valued at $15,978,488.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.43% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Molson Coors Brewing during the fourth quarter valued at approximately $27,000. Trustcore Financial Services LLC increased its holdings in Molson Coors Brewing by 75.0% during the first quarter. Trustcore Financial Services LLC now owns 700 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Busey Wealth Management purchased a new stake in Molson Coors Brewing during the fourth quarter valued at approximately $39,000. S.A. Mason LLC purchased a new stake in Molson Coors Brewing during the fourth quarter valued at approximately $43,000. Finally, PSI Advisors LLC purchased a new stake in Molson Coors Brewing during the fourth quarter valued at approximately $43,000. Institutional investors own 79.82% of the company’s stock.

TAP traded up $3.01 during midday trading on Wednesday, reaching $39.74. The company’s stock had a trading volume of 4,857,914 shares, compared to its average volume of 2,331,263. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of -305.67, a PEG ratio of 2.04 and a beta of 0.90. The company has a current ratio of 0.59, a quick ratio of 0.42 and a debt-to-equity ratio of 0.62. Molson Coors Brewing has a 1 year low of $34.01 and a 1 year high of $61.94. The stock’s 50-day moving average is $41.08 and its 200-day moving average is $48.66.

Molson Coors Brewing Company Profile

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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Earnings History and Estimates for Molson Coors Brewing (NYSE:TAP)

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