Molson Coors Brewing (NYSE:TAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, February 19th. The brokerage currently has a $92.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.44% from the stock’s current price.
According to Zacks, “Molson Coors has been gaining from its focus on above-premium brands, which now form nearly 20% of its total annual brand volumes. Also, the company is making efforts to gain share in the U.S. premium light segment through Coors Light and Miller Lite brands. These factors, focus on cost savings, better pricing and royalty volumes drove results in fourth-quarter 2017. Both the top and bottom line beat estimates and retained the solid year-on-year growth trend, helping the company surpass the industry in the past three months. However, U.S. volumes continued to be soft, with weakness across STRs and STWs due to industry woes. This, along with input cost inflation raises concerns. Nonetheless, Molson Coors’ raised cost savings target, expected gains from tax reforms, focus on First Choice and efforts to strengthen balance sheet bode well. In 2017, the company reduced debt by more than $600 million and also exceeded its free cash flow goal.”
A number of other equities research analysts have also issued reports on the company. Susquehanna Bancshares set a $107.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a research report on Monday, February 12th. Credit Suisse Group upgraded Molson Coors Brewing from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $94.00 to $96.00 in a report on Monday, February 12th. Berenberg Bank upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 price objective on the stock in a report on Thursday, February 8th. BMO Capital Markets assumed coverage on Molson Coors Brewing in a research note on Monday, February 5th. They set an “outperform” rating and a $95.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $112.00 price target on shares of Molson Coors Brewing in a research note on Friday, February 2nd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Buy” and an average target price of $96.88.
Shares of Molson Coors Brewing (NYSE TAP) traded up $0.63 during trading hours on Monday, reaching $81.10. The company’s stock had a trading volume of 1,550,000 shares, compared to its average volume of 1,850,000. Molson Coors Brewing has a 12 month low of $72.71 and a 12 month high of $99.65. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.79. The stock has a market cap of $17,530.00, a PE ratio of 17.94, a P/E/G ratio of 1.80 and a beta of 0.86.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.60 billion. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. Molson Coors Brewing’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. analysts predict that Molson Coors Brewing will post 5.16 EPS for the current year.
In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the sale, the chairman now owns 319,222 shares of the company’s stock, valued at $27,137,062.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.76% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Molson Coors Brewing by 3.4% during the fourth quarter. BlackRock Inc. now owns 11,435,122 shares of the company’s stock valued at $938,480,000 after acquiring an additional 380,133 shares during the period. Independent Franchise Partners LLP lifted its stake in shares of Molson Coors Brewing by 41.3% in the fourth quarter. Independent Franchise Partners LLP now owns 8,707,547 shares of the company’s stock worth $714,628,000 after acquiring an additional 2,546,533 shares in the last quarter. Maverick Capital Ltd. lifted its stake in shares of Molson Coors Brewing by 65.2% in the fourth quarter. Maverick Capital Ltd. now owns 3,727,466 shares of the company’s stock worth $305,913,000 after acquiring an additional 1,471,573 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Molson Coors Brewing by 12.9% in the fourth quarter. Wells Fargo & Company MN now owns 3,595,387 shares of the company’s stock worth $295,074,000 after acquiring an additional 410,058 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Molson Coors Brewing by 852.1% in the third quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock worth $198,294,000 after acquiring an additional 2,173,761 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.
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Molson Coors Brewing Company Profile
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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