Analysts forecast that Molson Coors Beverage (NYSE:TAP) will announce $1.86 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Molson Coors Beverage’s earnings, with estimates ranging from $1.84 billion to $1.88 billion. Molson Coors Beverage reported sales of $2.10 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 11.4%. The company is expected to announce its next earnings report before the market opens on Thursday, April 29th.
According to Zacks, analysts expect that Molson Coors Beverage will report full-year sales of $10.26 billion for the current fiscal year, with estimates ranging from $10.19 billion to $10.34 billion. For the next fiscal year, analysts anticipate that the business will report sales of $10.38 billion, with estimates ranging from $10.21 billion to $10.61 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Molson Coors Beverage.
Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Wednesday, February 10th. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.37). The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.41 billion. Molson Coors Beverage had a return on equity of 7.35% and a net margin of 4.86%.
TAP has been the subject of several recent research reports. Citigroup boosted their price objective on Molson Coors Beverage from $52.00 to $61.00 in a report on Wednesday, March 31st. TheStreet lowered Molson Coors Beverage from a “b-” rating to a “c” rating in a research report on Thursday, February 11th. Cowen boosted their price objective on Molson Coors Beverage from $35.00 to $55.00 in a research report on Thursday, January 21st. Jefferies Financial Group upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $57.00 in a research report on Monday, January 4th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.00 price objective (down from $45.00) on shares of Molson Coors Beverage in a research report on Thursday, March 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $48.62.
In other news, CEO Simon Cox sold 10,653 shares of the business’s stock in a transaction dated Wednesday, February 24th. The shares were sold at an…