Molson Coors Brewing Co (NYSE:TAP) has been given a consensus recommendation of “Hold” by the fifteen analysts that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $63.60.
TAP has been the subject of several recent research reports. MKM Partners initiated coverage on Molson Coors Brewing in a research note on Thursday, September 19th. They issued a “buy” rating and a $66.00 price target for the company. Redburn Partners reissued a “sell” rating on shares of Molson Coors Brewing in a research note on Friday. ValuEngine raised Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Guggenheim lowered their price target on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Finally, Bryan, Garnier & Co reissued a “sell” rating and issued a $51.00 price target on shares of Molson Coors Brewing in a research note on Thursday, August 1st.
In other Molson Coors Brewing news, VP Brian Tabolt sold 1,825 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $56.94, for a total transaction of $103,915.50. Following the completion of the sale, the vice president now owns 6,218 shares of the company’s stock, valued at $354,052.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.48% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Ossiam bought a new stake in Molson Coors Brewing during the second quarter worth approximately $31,000. Capital Bank & Trust Co acquired a new position in shares of Molson Coors Brewing during the second quarter worth approximately $39,000. Coastal Investment Advisors Inc. lifted its holdings in shares of Molson Coors Brewing by 62.5% during the second quarter. Coastal Investment Advisors Inc. now owns 762 shares of the company’s stock worth $44,000 after buying an additional 293 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Molson Coors Brewing during the second quarter worth approximately $49,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Molson Coors Brewing by 131.7% during the second quarter. CSat Investment Advisory L.P. now owns 1,008 shares of the company’s stock worth $57,000 after buying an additional 573 shares during the last quarter. 76.28% of the stock is owned by hedge funds and other institutional investors.
NYSE:TAP traded up $0.18 on Monday, hitting $56.24. 800,227 shares of the company’s stock traded hands, compared to its average volume of 1,653,430. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. Molson Coors Brewing has a 1 year low of $49.92 and a 1 year high of $67.62. The firm has a 50-day moving average price of $54.69 and a 200-day moving average price of $56.40. The company has a market cap of $12.06 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 2.34 and a beta of 0.78.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.13). The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.03 billion. Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 EPS. On average, research analysts forecast that Molson Coors Brewing will post 4.36 EPS for the current fiscal year.
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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