Today’s Research Reports on Stocks to Watch: SodaStream International and Molson Coors Brewing
NEW YORK, NY / ACCESSWIRE / August 2, 2018 / Beverage companies SodaStream and Molson Coors Brewing saw gains in Wednesday’s session. While SodaStream soared to a new high on strong second quarter results, shares of Molson Coors saw losses ahead of the bell on its own report. The company saw those losses come back after it was announced that the company’s Canadian arm will make cannabis-infused drinks along with marijuana producer Hydropothecary.
RDI Initiates Coverage on:
SodaStream International Ltd.
https://rdinvesting.com/news/?ticker=SODA
Molson Coors Brewing Company
https://rdinvesting.com/news/?ticker=TAP
SodaStream International Ltd. shares were skyrocketing in Wednesday's session to close up 26.35%. The stock hit a new high of $111.36 on explosive volume compared to usual at nearly 4.5 million shares. The maker of carbonated-water machines saw its shares jump after reporting strong second-quarter results that revealed record levels of sales and profit. CEO Daniel Birnbaum called the quarter "the most successful quarter in our company's history." Revenue for the quarter hit $171.5 million, a growth of 31%. Net income soared 82% to hit $26.1 million, or $1.14 a share. Analysts had been waiting for revenue of $149.1 million and $0.73 per share in profit. Birnbaum remarked, "These results underscore the progress we are making toward our primary strategic objectives of expanding household penetration and increasing usage of our home carbonation system." Looking ahead the company has upped its full year outlook, forecasting that revenue will grow 23% compared to 2017. Previously the company had forecast 15% for growth. Operating income is now expected to grow 44% compared to a 15% prior guidance and earnings per share is expected to grow 31% compared to an 8% prior forecast.
Access RDI’s SodaStream International Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=SODA
Molson Coors Brewing Company shares closed up a little under 3.5% on Wednesday with nearly 7.7 million shares traded. Wall Street learned yesterday that the company's Canadian arm will make cannabis-infused drinks along with marijuana producer Hydropothecary Corp. Molson Coors Canada will hold a 57.5 percent controlling stake in the stand-alone joint venture. Hydropothecary will own the remaining ownership interest. The deal is expected to close by the end of September. Net income saw a rise of 29% to $424.1 million, or $1.96 a share. Adjusted earnings per share of $1.88 came ahead of the $1.83 that analysts were waiting for. Revenue slipped 0.2% yoy to $3.085 billion but just beat the expectations of $3.081 billion.
Access RDI’s Molson Coors Brewing Company Research Report at:
https://rdinvesting.com/news/?ticker=TAP
Our Actionable Research on SodaStream International Ltd. (NASDAQ: SODA) and Molson Coors Brewing Company (NYSE: TAP) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
