Investment analysts at Deutsche Bank assumed coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating and a $89.00 price target on the stock. Deutsche Bank’s price target suggests a potential upside of 12.13% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Citigroup decreased their target price on Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Susquehanna Bancshares set a $108.00 target price on Molson Coors Brewing and gave the company a “buy” rating in a research report on Wednesday, November 1st. BidaskClub upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Credit Suisse Group set a $92.00 target price on Molson Coors Brewing and gave the company a “hold” rating in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $98.02.
Molson Coors Brewing (NYSE TAP) opened at $79.37 on Wednesday. Molson Coors Brewing has a 12-month low of $76.25 and a 12-month high of $102.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.54. The stock has a market capitalization of $17,264.31, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.35 and a beta of 0.83.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.34. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 204.3% on a year-over-year basis. equities research analysts forecast that Molson Coors Brewing will post 4.34 EPS for the current year.
In other news, CFO Tracey Joubert sold 1,000 shares of Molson Coors Brewing stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief financial officer now directly owns 22,839 shares of the company’s stock, valued at $1,807,706.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.76% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Baker Ellis Asset Management LLC lifted its stake in shares of Molson Coors Brewing by 4.9% in the third quarter. Baker Ellis Asset Management LLC now owns 35,086 shares of the company’s stock worth $2,864,000 after acquiring an additional 1,650 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Molson Coors Brewing in the third quarter worth approximately $24,492,000. Strs Ohio lifted its stake in shares of Molson Coors Brewing by 6.4% in the third quarter. Strs Ohio now owns 605,977 shares of the company’s stock worth $49,471,000 after acquiring an additional 36,604 shares during the period. Toronto Dominion Bank lifted its stake in shares of Molson Coors Brewing by 16.1% in the third quarter. Toronto Dominion Bank now owns 72,691 shares of the company’s stock worth $5,934,000 after acquiring an additional 10,087 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Molson Coors Brewing by 26.3% in the second quarter. Wells Fargo & Company MN now owns 2,581,382 shares of the company’s stock worth $222,877,000 after acquiring an additional 537,767 shares during the period. 78.00% of the stock is currently owned by institutional investors.
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About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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