NEW YORK (TheStreet) -- Shares of Molson Coors Brewing (TAP) - Get Report were lower in late afternoon trading on Friday as the company prepares to report 2016 third quarter results before the opening bell on Tuesday.
Analysts surveyed by FactSet are looking for the Denver-based brewing company to post adjusted earnings of $1.02 per share on revenue of $982.9 million.
In the same quarter last year, Molson Coors reported adjusted earnings of $1.40 per share on $1.02 billion in revenue.
Earlier this month, Molson Coors purchased SABMiller's (SBMRY) 58% stake in the companies' U.S. joint venture, MillerCoors. The deal gives Molson Coors the global rights to MillerCoors' brands.
Goldman Sachs reinstated coverage of the stock with a "buy" rating and $130 price target after the deal closed.
The firm said that the MillerCoors acquisition could be transformative for Molson Coors and estimates a 10% or greater compound annual growth rate in earnings per share, according to the Fly.
Molson Coors, based in Denver, owns brands like Carling, Coors Light, Molson Canadian, Keystone Light and Blue Moon.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: TAP