ValuEngine Downgrades Molson Coors Brewing (NYSE:TAP) to Strong Sell

Molson Coors Brewing (NYSE:TAP) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday, ValuEngine reports.

A number of other research firms also recently weighed in on TAP. Credit Suisse Group downgraded Air China from a “neutral” rating to an “underperform” rating in a report on Monday, June 10th. Jefferies Financial Group restated a “sell” rating on shares of Molson Coors Brewing in a report on Wednesday, April 10th. Finally, Zacks Investment Research downgraded Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $68.55.

Shares of NYSE:TAP opened at $54.38 on Friday. The business’s fifty day moving average is $55.90. The firm has a market capitalization of $11.84 billion, a P/E ratio of 10.79, a PEG ratio of 2.65 and a beta of 0.81. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 0.61. Molson Coors Brewing has a 52-week low of $53.25 and a 52-week high of $71.04.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.05). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Brewing had a return on equity of 7.92% and a net margin of 7.46%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. Sell-side analysts expect that Molson Coors Brewing will post 4.63 earnings per share for the current fiscal year.

In other Molson Coors Brewing news, CEO Mark Hunter sold 11,287 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $60.06, for a total transaction of $677,897.22. Following the sale, the chief executive officer now owns 166,743 shares of the company’s stock, valued at $10,014,584.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.48% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TAP. Deprince Race & Zollo Inc. lifted its stake in shares of Molson Coors Brewing by 2.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 329,097 shares of the company’s stock valued at $18,482,000 after purchasing an additional 7,202 shares in the last quarter. Castle Rock Wealth Management LLC lifted its holdings in shares of Molson Coors Brewing by 5.3% in the fourth quarter. Castle Rock Wealth Management LLC now owns 6,326 shares of the company’s stock valued at $421,000 after buying an additional 317 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Molson Coors Brewing by 10.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 30,726 shares of the company’s stock valued at $1,725,000 after buying an additional 2,863 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Molson Coors Brewing in the fourth quarter valued at $254,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Molson Coors Brewing by 5.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 32,896 shares of the company’s stock valued at $1,847,000 after buying an additional 1,646 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.

About Molson Coors Brewing

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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Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

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