Zacks: Brokerages Expect Molson Coors Brewing Co Class B (TAP) Will Announce Quarterly Sales of $2.91 Billion

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Equities analysts expect that Molson Coors Brewing Co Class B (NYSE:TAP) will post $2.91 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Molson Coors Brewing Co Class B’s earnings. The lowest sales estimate is $2.88 billion and the highest is $2.94 billion. Molson Coors Brewing Co Class B reported sales of $2.88 billion in the same quarter last year, which indicates a positive year over year growth rate of 1%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Molson Coors Brewing Co Class B will report full-year sales of $10.92 billion for the current year, with estimates ranging from $10.83 billion to $11.01 billion. For the next year, analysts forecast that the firm will post sales of $10.93 billion per share, with estimates ranging from $10.81 billion to $11.14 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Molson Coors Brewing Co Class B.

Molson Coors Brewing Co Class B (NYSE:TAP) last announced its quarterly earnings results on Wednesday, August 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.05. Molson Coors Brewing Co Class B had a net margin of 11.68% and a return on equity of 6.97%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $1.70 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis.

TAP has been the subject of several analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $65.00 price target (down from $71.00) on shares of Molson Coors Brewing Co Class B in a report on Thursday, May 31st. Susquehanna Bancshares set a $80.00 price target on shares of Molson Coors Brewing Co Class B and gave the company a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research raised shares of Molson Coors Brewing Co Class B from a “sell” rating to a “hold” rating in a report on Saturday, July 7th. Morgan Stanley lifted their price target on shares of Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, August 2nd. Finally, Citigroup cut their price target on shares of Molson Coors Brewing Co Class B from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, August 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Molson Coors Brewing Co Class B currently has a consensus rating of “Hold” and a consensus target price of $77.50.

TAP stock traded up $0.06 during trading on Tuesday, hitting $64.98. 12,006 shares of the stock traded hands, compared to its average volume of 1,431,198. Molson Coors Brewing Co Class B has a one year low of $58.75 and a one year high of $85.86. The company has a market capitalization of $13.87 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.60 and a beta of 0.72. The company has a quick ratio of 0.51, a current ratio of 0.66 and a debt-to-equity ratio of 0.69.

The business also recently announced a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, August 30th. Molson Coors Brewing Co Class B’s dividend payout ratio is presently 36.69%.

In other Molson Coors Brewing Co Class B news, insider Krishnan Anand sold 2,595 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $64.96, for a total value of $168,571.20. Following the completion of the transaction, the insider now directly owns 49,946 shares of the company’s stock, valued at $3,244,492.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.55% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TAP. Rockefeller Capital Management L.P. bought a new position in shares of Molson Coors Brewing Co Class B in the first quarter worth about $102,000. Ostrum Asset Management bought a new stake in shares of Molson Coors Brewing Co Class B during the first quarter worth approximately $103,000. Summit Trail Advisors LLC raised its stake in shares of Molson Coors Brewing Co Class B by 5,499.7% during the first quarter. Summit Trail Advisors LLC now owns 102,530 shares of the company’s stock worth $103,000 after buying an additional 100,699 shares during the last quarter. Independent Order of Foresters bought a new stake in shares of Molson Coors Brewing Co Class B during the second quarter worth approximately $141,000. Finally, Strategic Wealth Partners Ltd. bought a new stake in shares of Molson Coors Brewing Co Class B during the second quarter worth approximately $214,000. 76.43% of the stock is owned by institutional investors.

Molson Coors Brewing Co Class B Company Profile

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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