Molson Coors Brewing (TAP) Reaches New 12-Month High and Low at $71.07

Shares of Molson Coors Brewing Co (NYSE:TAP) hit a new 52-week high and low during trading on Friday . The company traded as low as $71.07 and last traded at $70.88, with a volume of 2424382 shares changing hands. The stock had previously closed at $73.06.

A number of analysts recently commented on TAP shares. Zacks Investment Research raised Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, January 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $116.00 price target on shares of Molson Coors Brewing in a research report on Friday, December 22nd. Morgan Stanley started coverage on Molson Coors Brewing in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $88.00 price target for the company. Barclays started coverage on Molson Coors Brewing in a research report on Wednesday, January 10th. They set an “overweight” rating and a $94.00 price target for the company. Finally, Berenberg Bank raised Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 price target for the company in a research report on Thursday, February 8th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Molson Coors Brewing presently has a consensus rating of “Buy” and a consensus price target of $93.68.

The company has a debt-to-equity ratio of 0.79, a current ratio of 0.64 and a quick ratio of 0.47. The stock has a market capitalization of $15,785.17, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.68 and a beta of 0.81.

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. analysts anticipate that Molson Coors Brewing Co will post 5.12 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. CAPROCK Group Inc. grew its position in shares of Molson Coors Brewing by 38.8% in the fourth quarter. CAPROCK Group Inc. now owns 11,850 shares of the company’s stock valued at $1,006,000 after purchasing an additional 3,312 shares in the last quarter. Jump Trading LLC purchased a new position in shares of Molson Coors Brewing in the fourth quarter valued at $466,000. Maverick Capital Ltd. grew its position 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 valued at $305,913,000 after purchasing an additional 1,471,573 shares in the last quarter. Amalgamated Bank grew its position in shares of Molson Coors Brewing by 9.6% in the fourth quarter. Amalgamated Bank now owns 21,939 shares of the company’s stock valued at $1,801,000 after purchasing an additional 1,925 shares in the last quarter. Finally, Westpac Banking Corp grew its position in shares of Molson Coors Brewing by 49.2% in the fourth quarter. Westpac Banking Corp now owns 16,513 shares of the company’s stock valued at $1,355,000 after purchasing an additional 5,449 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

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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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