Wall Street brokerages expect Molson Coors Brewing Co (NYSE:TAP) to announce $2.90 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Molson Coors Brewing’s earnings, with the highest sales estimate coming in at $2.94 billion and the lowest estimate coming in at $2.84 billion. Molson Coors Brewing reported sales of $2.88 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.7%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, October 31st.

On average, analysts expect that Molson Coors Brewing will report full year sales of $10.90 billion for the current financial year, with estimates ranging from $10.79 billion to $11.01 billion. For the next year, analysts anticipate that the company will post sales of $10.90 billion, with estimates ranging from $10.76 billion to $11.14 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Molson Coors Brewing.

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

TAP has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of Molson Coors Brewing from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, August 27th. Morgan Stanley increased their price objective on shares of Molson Coors Brewing from $69.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, August 2nd. Guggenheim initiated coverage on shares of Molson Coors Brewing in a report on Thursday, September 13th. They set a “neutral” rating and a $66.00 price objective on the stock. Standpoint Research initiated coverage on shares of Molson Coors Brewing in a report on Tuesday, October 23rd. They set a “buy” rating and a $72.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $75.79.

NYSE:TAP traded down $1.13 during mid-day trading on Tuesday, reaching $55.70. 3,617,062 shares of the company were exchanged, compared to its average volume of 1,685,431. Molson Coors Brewing has a 12 month low of $55.52 and a 12 month high of $85.86. 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 firm has a market cap of $12.02 billion, a P/E ratio of 12.46, a P/E/G ratio of 2.31 and a beta of 0.73.

In other Molson Coors Brewing news, insider Krishnan Anand sold 2,595 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $66.26, for a total transaction of $171,944.70. Following the sale, the insider now owns 49,946 shares of the company’s stock, valued at approximately $3,309,421.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 7,785 shares of company stock worth $499,901. Insiders own 2.55% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Molson Coors Brewing by 10.9% in the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock valued at $945,363,000 after purchasing an additional 1,367,047 shares during the last quarter. ARGA Investment Management LP boosted its stake in shares of Molson Coors Brewing by 19.7% in the 2nd quarter. ARGA Investment Management LP now owns 23,575 shares of the company’s stock valued at $1,604,000 after purchasing an additional 3,875 shares during the last quarter. Intrepid Capital Management Inc. bought a new position in shares of Molson Coors Brewing in the 2nd quarter valued at about $730,000. Fairpointe Capital LLC boosted its stake in shares of Molson Coors Brewing by 42,908.9% in the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock valued at $93,643,000 after purchasing an additional 1,373,085 shares during the last quarter. Finally, Cypress Capital Group bought a new position in shares of Molson Coors Brewing in the 2nd quarter valued at about $430,000. 76.21% of the stock is currently owned by institutional investors.

Molson Coors Brewing 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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