Stock analysts at MKM Partners assumed coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report issued to clients and investors on Thursday, September 19th, MarketBeat.com reports. The firm set a “buy” rating and a $66.00 price target on the stock. MKM Partners’ price objective suggests a potential upside of 17.73% from the company’s previous close.
Several other research firms have also recently commented on TAP. Credit Suisse Group began coverage on Molson Coors Brewing in a research note on Monday, June 10th. They set an “underperform” rating and a $50.00 target price for the company. Bryan, Garnier & Co reaffirmed a “sell” rating and set a $51.00 price objective on shares of Molson Coors Brewing in a research report on Thursday, August 1st. BMO Capital Markets upped their price objective on Molson Coors Brewing to $65.00 in a research report on Thursday, August 1st. ValuEngine cut Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 11th. Finally, Guggenheim lowered their price objective on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Six research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Molson Coors Brewing has an average rating of “Hold” and an average target price of $63.60.
TAP traded up $0.34 on Thursday, hitting $56.06. 996,538 shares of the company were exchanged, compared to its average volume of 1,468,745. Molson Coors Brewing has a twelve month low of $49.92 and a twelve month high of $67.62. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 2.34 and a beta of 0.78. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $54.69 and a two-hundred day moving average price of $56.40.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.13). Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts expect that Molson Coors Brewing will post 4.36 EPS for the current year.
In other news, VP Brian Tabolt sold 1,825 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $56.94, for a total value of $103,915.50. Following the completion of the sale, the vice president now directly owns 6,218 shares of the company’s stock, valued at approximately $354,052.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.48% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new stake in shares of Molson Coors Brewing in the 1st quarter valued at about $27,000. Synovus Financial Corp purchased a new stake in Molson Coors Brewing during the 1st quarter valued at approximately $30,000. Ossiam purchased a new stake in Molson Coors Brewing during the 2nd quarter valued at approximately $31,000. Capital Bank & Trust Co purchased a new stake in Molson Coors Brewing during the 2nd quarter valued at approximately $39,000. Finally, Coastal Investment Advisors Inc. raised its stake in Molson Coors Brewing by 62.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 762 shares of the company’s stock valued at $44,000 after acquiring an additional 293 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.
Molson Coors Brewing Company Profile
Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.
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