Equities analysts expect Molson Coors Brewing Co (NYSE:TAP) to post $2.54 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Molson Coors Brewing’s earnings, with the lowest sales estimate coming in at $2.50 billion and the highest estimate coming in at $2.59 billion. Molson Coors Brewing reported sales of $2.58 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.6%. The company is scheduled to report its next quarterly earnings report 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 financial year, analysts forecast that the company will report sales of $10.77 billion, with estimates ranging from $10.65 billion to $10.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Molson Coors Brewing.
Get Molson Coors Brewing alerts: Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.25. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Molson Coors Brewing had a return on equity of 7.58% and a net margin of 12.05%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 earnings per share.
A number of recently commented on TAP shares. Guggenheim started coverage on Molson Coors Brewing in a research report on Thursday, September 13th. They issued a “neutral” rating and a $66.00 price objective for the company. Standpoint Research started coverage on Molson Coors Brewing in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $72.00 price objective for the company. ValuEngine raised Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Citigroup lowered their price objective on Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Two analysts have sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $75.27.
Shares of NYSE:TAP traded up $1.84 during midday trading on Wednesday, reaching $59.71. The company’s stock had a trading volume of 1,600,987 shares, 1,749,967. The company has a market cap of $12.12 billion, a P/E ratio of 13.36, a P/E/G ratio of 2.49 and a beta of 0.72. 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 1 year low of $54.17 and a 1 year high of $85.86.
The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Friday, November 30th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, November 29th. Molson Coors Brewing’s payout ratio is currently 36.69%.
In related news, insider Krishnan Anand sold 2,595 shares of Molson Coors Brewing stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $64.75, for a total value of $168,026.25. Following the transaction, the insider now owns 49,946 shares in the company, valued at $3,234,003.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink . 2.55% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Molson Coors Brewing by 1.5% during the third quarter. BlackRock Inc. now owns 14,104,797 shares of the company’s stock worth $867,444,000 after purchasing an additional 210,588 shares in the last quarter. Dodge & Cox increased its holdings in Molson Coors Brewing by 163.1% in the third 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in Molson Coors Brewing by 33.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,715,532 shares of the company’s stock valued at $167,004,000 after buying an additional 687,940 shares during the last quarter. Putnam Investments LLC increased its holdings in Molson Coors Brewing by 0.6% in the third quarter. Putnam Investments LLC now owns 2,375,042 shares of the company’s stock valued at $146,065,000 after buying an additional 13,929 shares during the last quarter. Finally, Fairpointe Capital LLC increased its holdings in Molson Coors Brewing by 6.9% in the third quarter. Fairpointe Capital LLC now owns 1,471,030 shares of the company’s stock valued at $90,468,000 after buying an additional 94,745 shares during the last quarter. Hedge funds and other institutional investors own 75.98% of the company’s stock.
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.
Recommended Story: What are Institutional Investors?
Get a free copy of the Zacks research report on Molson Coors Brewing (TAP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com