$3.01 Billion in Sales Expected for Molson Coors Brewing Co (NYSE:TAP) This Quarter

Wall Street analysts forecast that Molson Coors Brewing Co (NYSE:TAP) will post sales of $3.01 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Molson Coors Brewing’s earnings. The highest sales estimate is $3.06 billion and the lowest is $2.94 billion. Molson Coors Brewing reported sales of $3.09 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.6%. The business is expected to announce its next quarterly earnings report before the market opens on Wednesday, July 31st.

According to Zacks, analysts expect that Molson Coors Brewing will report full year sales of $10.65 billion for the current financial year, with estimates ranging from $10.57 billion to $10.69 billion. For the next year, analysts forecast that the business will report sales of $10.66 billion, with estimates ranging from $10.59 billion to $10.78 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 issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.05). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Brewing had a return on equity of 7.92% and a net margin of 7.46%. Molson Coors Brewing’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS.

TAP has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “sell” rating on shares of Molson Coors Brewing in a report on Wednesday, April 10th. Credit Suisse Group downgraded Air China from a “neutral” rating to an “underperform” rating in a report on Monday, June 10th. Finally, Zacks Investment Research downgraded Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $68.55.

NYSE TAP traded down $1.23 during trading on Thursday, hitting $54.64. The company’s stock had a trading volume of 61,328 shares, compared to its average volume of 1,652,251. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $11.99 billion, a P/E ratio of 10.88, a PEG ratio of 2.75 and a beta of 0.82. The firm’s 50 day moving average is $56.08. Molson Coors Brewing has a fifty-two week low of $53.25 and a fifty-two week high of $71.04.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, May 31st. Molson Coors Brewing’s payout ratio is 32.54%.

In other news, CEO Mark Hunter sold 11,287 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $60.06, for a total value of $677,897.22. Following the completion of the transaction, the chief executive officer now directly owns 166,743 shares in the company, valued at $10,014,584.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.48% of the company’s stock.

Large investors have recently made changes to their positions in the company. Naples Global Advisors LLC increased its position in shares of Molson Coors Brewing by 5.1% in the second quarter. Naples Global Advisors LLC now owns 22,596 shares of the company’s stock valued at $1,265,000 after buying an additional 1,095 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Molson Coors Brewing by 19.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 247,248 shares of the company’s stock valued at $14,749,000 after buying an additional 41,054 shares in the last quarter. Cleararc Capital Inc. purchased a new stake in shares of Molson Coors Brewing in the first quarter valued at approximately $272,000. Nordea Investment Management AB increased its position in shares of Molson Coors Brewing by 12.8% in the first quarter. Nordea Investment Management AB now owns 341,833 shares of the company’s stock valued at $20,392,000 after buying an additional 38,909 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Molson Coors Brewing by 10.8% in the first quarter. Advisory Services Network LLC now owns 2,298 shares of the company’s stock valued at $137,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

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.

Further Reading: How is the Producer Price Index calculated?

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