Shares of Molson Coors Brewing Co (NYSE:TAP) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $72.58.
Several brokerages have commented on TAP. Zacks Investment Research downgraded Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. BMO Capital Markets decreased their price objective on Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Morgan Stanley set a $68.00 price objective on Molson Coors Brewing and gave the stock a “hold” rating in a report on Thursday, December 20th. Jefferies Financial Group reissued a “sell” rating on shares of Molson Coors Brewing in a report on Wednesday, April 10th. Finally, Deutsche Bank lowered Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $72.00 to $63.00 in a report on Tuesday, February 12th.
Shares of TAP stock traded up $0.47 during trading on Monday, reaching $60.45. The company had a trading volume of 19,749 shares, compared to its average volume of 1,455,409. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.64. Molson Coors Brewing has a one year low of $54.17 and a one year high of $74.00. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 3.51 and a beta of 0.77.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.53 billion. Molson Coors Brewing had a return on equity of 7.89% and a net margin of 8.37%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. On average, analysts forecast that Molson Coors Brewing will post 4.63 EPS for the current fiscal year.
In related news, CEO Simon Cox sold 9,497 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $60.69, for a total value of $576,372.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.55% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in TAP. Acima Private Wealth LLC acquired a new position in Molson Coors Brewing in the fourth quarter worth $25,000. Wakefield Asset Management LLLP bought a new stake in Molson Coors Brewing in the fourth quarter valued at about $26,000. Pinnacle Bank bought a new stake in Molson Coors Brewing in the fourth quarter valued at about $34,000. North Star Investment Management Corp. increased its holdings in Molson Coors Brewing by 168.8% in the first quarter. North Star Investment Management Corp. now owns 637 shares of the company’s stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in Molson Coors Brewing in the fourth quarter valued at about $60,000. 76.51% of the stock is currently 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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