Molson Coors Brewing (NYSE:TAP) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.
Other equities analysts also recently issued reports about the company. Jefferies Financial Group started coverage on Molson Coors Brewing in a research note on Friday, September 7th. They set an “underperform” rating and a $55.00 target price for the company. Zacks Investment Research downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Berenberg Bank set a $67.00 target price on Molson Coors Brewing and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Standpoint Research started coverage on Molson Coors Brewing in a research note on Tuesday, October 23rd. They set a “buy” rating and a $72.00 target price for the company. Finally, Guggenheim started coverage on Molson Coors Brewing in a research note on Thursday, September 13th. They set a “neutral” rating and a $66.00 target price for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $75.36.
TAP traded down $2.87 on Thursday, hitting $63.12. 2,590,320 shares of the company traded hands, compared to its average volume of 2,215,721. The company has a quick ratio of 0.51, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The company has a market cap of $13.81 billion, a PE ratio of 14.12, a P/E/G ratio of 2.66 and a beta of 0.55. Molson Coors Brewing has a 12-month low of $55.52 and a 12-month high of $85.86.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.25. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Molson Coors Brewing had a return on equity of 7.58% and a net margin of 12.05%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 EPS. As a group, sell-side analysts expect that Molson Coors Brewing will post 4.84 EPS for the current fiscal year.
In other Molson Coors Brewing news, insider Krishnan Anand sold 2,595 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $66.26, for a total transaction of $171,944.70. Following the sale, the insider now owns 49,946 shares in the company, valued at approximately $3,309,421.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.55% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in TAP. Truvestments Capital LLC acquired a new stake in shares of Molson Coors Brewing during the third quarter worth $105,000. Independent Order of Foresters acquired a new stake in shares of Molson Coors Brewing during the second quarter worth $141,000. Strategic Wealth Partners Ltd. acquired a new stake in shares of Molson Coors Brewing during the second quarter worth $214,000. Capital One National Association acquired a new stake in shares of Molson Coors Brewing during the second quarter worth $231,000. Finally, Barings LLC acquired a new stake in shares of Molson Coors Brewing during the second quarter worth $245,000. Hedge funds and other institutional investors own 76.15% of the company’s stock.
Molson Coors Brewing Company Profile
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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