Molson Coors Q1 Profit Falls, but Still Beats View; Revenue Misses (TAP)

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Beer brewer Molson Coors Brewing Company ( TAP ) on Tuesday posted first quarter profits that beat Wall Street's view, but its revenue fell shy of expectations.

The Denver-based company reported first quarter net income of $79.4 million, or 44 cents per share, compared with $82.6 million, or 44 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 47 cents per share.

Sales were mostly flat from last year to $691.4 million.

On average, Wall Street analysts expected a smaller profit of 42 cents per share, albeit on higher revenue of $703.8 million.

Molson Coors shares were inactive in premarket trading Tuesday.

The Bottom Line
Shares of Molson Coors ( TAP ) have a 3.04% dividend yield, based on last night's closing stock price of $42.04. The stock has technical support in the $38-$39 price area. If the shares can firm up, we see overhead resistance around the $44-$46 price levels.

Molson Coors Brewing Company ( TAP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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