Molson Coors Brewing Co (NYSE:TAP) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 12,210,000 shares, a growth of 11.7% from the December 15th total of 10,930,000 shares. Approximately 7.1% of the company’s shares are short sold. Based on an average trading volume of 1,780,000 shares, the days-to-cover ratio is presently 6.9 days.
NYSE TAP traded up $0.67 during trading hours on Thursday, hitting $56.60. 260,533 shares of the company traded hands, compared to its average volume of 1,851,851. The business’s 50-day moving average is $52.80 and its 200-day moving average is $54.02. Molson Coors Brewing has a twelve month low of $49.82 and a twelve month high of $67.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.42 and a current ratio of 0.59. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.34 and a beta of 0.75.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts predict that Molson Coors Brewing will post 4.3 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in TAP. CWM LLC raised its stake in Molson Coors Brewing by 1,000.0% in the third quarter. CWM LLC now owns 550 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the period. Parkside Financial Bank & Trust raised its stake in Molson Coors Brewing by 141.3% in the third quarter. Parkside Financial Bank & Trust now owns 567 shares of the company’s stock valued at $33,000 after buying an additional 332 shares during the period. Massey Quick Simon & CO. LLC bought a new stake in Molson Coors Brewing in the third quarter valued at approximately $35,000. Capital Bank & Trust Co bought a new stake in Molson Coors Brewing in the second quarter valued at approximately $39,000. Finally, FinTrust Capital Advisors LLC raised its stake in Molson Coors Brewing by 49.9% in the third quarter. FinTrust Capital Advisors LLC now owns 706 shares of the company’s stock valued at $41,000 after buying an additional 235 shares during the period. Hedge funds and other institutional investors own 77.77% of the company’s stock.
Several equities research analysts have issued reports on TAP shares. Deutsche Bank lowered their price target on Molson Coors Brewing from $56.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Barclays downgraded Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $59.00 to $54.00 in a report on Monday, November 25th. BMO Capital Markets downgraded Molson Coors Brewing from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $62.00 to $55.00 in a report on Tuesday, November 26th. ValuEngine raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Evercore ISI reaffirmed a “buy” rating and set a $60.00 price objective on shares of Molson Coors Brewing in a research report on Sunday, December 15th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $54.64.
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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