Zacks: Analysts Anticipate Molson Coors Brewing Co (TAP) to Post $0.57 Earnings Per Share

Wall Street analysts predict that Molson Coors Brewing Co (NYSE:TAP) will report $0.57 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Molson Coors Brewing’s earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.51. Molson Coors Brewing reported earnings per share of $0.48 in the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, May 1st.

According to Zacks, analysts expect that Molson Coors Brewing will report full-year earnings of $4.62 per share for the current year, with EPS estimates ranging from $4.34 to $4.82. For the next financial year, analysts expect that the company will post earnings of $4.83 per share, with EPS estimates ranging from $4.26 to $5.08. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Molson Coors Brewing.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Tuesday, February 12th. The company reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. Molson Coors Brewing had a net margin of 8.37% and a return on equity of 7.89%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the firm posted $0.62 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year.

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group reiterated a “sell” rating on shares of Molson Coors Brewing in a report on Tuesday, February 12th. Deutsche Bank cut shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their target price for the stock from $72.00 to $63.00 in a research report on Tuesday, February 12th. BMO Capital Markets decreased their target price on shares of Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 13th. Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Finally, Citigroup decreased their target price on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $70.25.

Shares of TAP traded down $0.08 during trading hours on Wednesday, reaching $63.75. The company had a trading volume of 10,408 shares, compared to its average volume of 1,349,603. The company has a quick ratio of 0.51, a current ratio of 0.64 and a debt-to-equity ratio of 0.65. Molson Coors Brewing has a 12-month low of $54.17 and a 12-month high of $72.88. The company has a market capitalization of $13.80 billion, a PE ratio of 12.67, a P/E/G ratio of 3.74 and a beta of 0.77.

In other Molson Coors Brewing news, CEO Simon Cox sold 9,497 shares of Molson Coors Brewing stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $60.69, for a total transaction of $576,372.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.55% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Molson Coors Brewing by 6.1% during the fourth quarter. BlackRock Inc. now owns 14,961,904 shares of the company’s stock valued at $840,259,000 after acquiring an additional 857,107 shares during the period. Dodge & Cox lifted its holdings in Molson Coors Brewing by 163.1% in the 3rd quarter. Dodge & Cox now owns 8,367,441 shares of the company’s stock valued at $514,598,000 after acquiring an additional 5,187,400 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Molson Coors Brewing by 10,185.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,587,752 shares of the company’s stock worth $99,000 after buying an additional 5,533,427 shares during the period. LSV Asset Management raised its holdings in Molson Coors Brewing by 317.4% during the 4th quarter. LSV Asset Management now owns 3,570,297 shares of the company’s stock worth $200,507,000 after buying an additional 2,714,997 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Molson Coors Brewing by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 2,550,361 shares of the company’s stock worth $142,989,000 after buying an additional 194,378 shares during the period. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

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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