Molson Coors Brewing (NYSE:TAP) had its price objective reduced by analysts at Citigroup from $102.00 to $88.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 20.28% from the company’s previous close.
Several other analysts also recently commented on TAP. Susquehanna Bancshares set a $107.00 price objective on shares of Molson Coors Brewing and gave the company a “buy” rating in a report on Monday, February 12th. BMO Capital Markets began coverage on shares of Molson Coors Brewing in a report on Monday, February 5th. They issued an “outperform” rating and a $95.00 price objective on the stock. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Monday, February 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Molson Coors Brewing in a report on Friday, February 2nd. Finally, Credit Suisse Group upgraded shares of Molson Coors Brewing from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $94.00 to $96.00 in a research note on Monday, February 12th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Molson Coors Brewing has a consensus rating of “Buy” and an average price target of $95.30.
TAP stock opened at $73.16 on Thursday. The firm has a market capitalization of $15,972.70, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.65 and a beta of 0.81. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.79. Molson Coors Brewing has a 12 month low of $72.07 and a 12 month high of $97.50.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.56 by $0.06. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.60 billion. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. research analysts expect that Molson Coors Brewing will post 5.16 EPS for the current fiscal year.
In related news, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total value of $4,726,811.03. Following the completion of the transaction, the chairman now directly owns 319,222 shares in the company, valued at approximately $27,137,062.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.76% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cerebellum GP LLC acquired a new position in Molson Coors Brewing during the fourth quarter worth $129,000. Valeo Financial Advisors LLC raised its position in Molson Coors Brewing by 58.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock worth $153,000 after acquiring an additional 686 shares during the period. Dupont Capital Management Corp raised its position in Molson Coors Brewing by 94.9% during the fourth quarter. Dupont Capital Management Corp now owns 2,468 shares of the company’s stock worth $203,000 after acquiring an additional 1,202 shares during the period. Chemical Bank acquired a new position in Molson Coors Brewing during the fourth quarter worth $205,000. Finally, WealthPLAN Partners LLC acquired a new position in Molson Coors Brewing during the fourth quarter worth $212,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.
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About Molson Coors Brewing
Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.
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