MOLSON COORS CANADA INC. is a hold. The company (Toronto symbols TPX.A $87 and TPX.B $76; Conservative Growth and Income Portfolios, Consumer sector; Shares outstanding: 215.7 million; Market cap: $16.4 billion; Price-to-sales ratio: 1.0; Dividend yield: 3.0%; TSINetwork Rating: Average; www.molsoncoors.com) is the world’s fifth-largest beer brewer.
The company is paying an undisclosed sum for a majority stake in VOA, the energy drink brand co-founded by actor Dwayne “The Rock” Johnson. The purchase is part of Molson’s strategy to offset slowing demand for its main beer brands.
The company’s earnings will probably rise 3% to $5.97 U.S. a share in 2025, and the A shares trades at 10.2 times that estimate (8.9 for the B shares). The low multiple reflects increasingly intense competition from larger brewers such as Anheuser-Busch InBev. Still, the $1.76 U.S. dividend looks secure and yields 2.9% for the A shares (3.3% for the B).
Molson Coors is a hold. hold…
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