Molson Coors Brewing (NYSE:TAP) Issues Earnings Results, Beats Estimates By $0.24 EPS

Molson Coors Brewing (NYSE:TAP) posted its quarterly earnings results on Wednesday. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.24, Bloomberg Earnings reports. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.48 billion. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS.

Shares of TAP traded down $0.22 during mid-day trading on Friday, reaching $55.14. The company had a trading volume of 39,131 shares, compared to its average volume of 1,756,753. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.42 and a current ratio of 0.59. The firm has a 50-day moving average price of $55.67 and a 200 day moving average price of $54.17. Molson Coors Brewing has a 52 week low of $49.82 and a 52 week high of $64.32. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 77.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.78.

Several brokerages have recently commented on TAP. Zacks Investment Research raised Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 price objective for the company in a research note on Monday, November 4th. Barclays downgraded Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $59.00 to $54.00 in a research report on Monday, November 25th. Evercore ISI started coverage on Molson Coors Brewing in a report on Friday, February 7th. They set a “buy” rating and a $60.00 price objective for the company. Berenberg Bank reissued a “hold” rating and set a $51.00 price objective on shares of Molson Coors Brewing in a report on Friday, November 1st. Finally, Citigroup increased their price objective on Molson Coors Brewing from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $55.17.

About Molson Coors Brewing

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 for Molson Coors Brewing (NYSE:TAP)

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