Barclays initiated coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report released on Wednesday, January 10th, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $94.00 target price on the stock.
Several other brokerages also recently weighed in on TAP. Deutsche Bank started coverage on shares of Molson Coors Brewing in a report on Wednesday, December 13th. They issued a buy rating and a $89.00 target price for the company. Zacks Investment Research raised shares of Molson Coors Brewing from a hold rating to a buy rating and set a $92.00 price objective for the company in a report on Tuesday, January 2nd. Cowen reissued a hold rating and set a $96.00 price objective on shares of Molson Coors Brewing in a report on Thursday, September 28th. Susquehanna Bancshares reissued a buy rating on shares of Molson Coors Brewing in a report on Wednesday, October 11th. Finally, Berenberg Bank restated a sell rating and set a $76.00 target price on shares of Molson Coors Brewing in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $96.94.
Shares of Molson Coors Brewing (NYSE:TAP) opened at $84.72 on Wednesday. The stock has a market cap of $18,283.15, a price-to-earnings ratio of 8.18, a PEG ratio of 2.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. Molson Coors Brewing has a 1 year low of $76.25 and a 1 year high of $102.14.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. Molson Coors Brewing’s quarterly revenue was up 204.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. sell-side analysts forecast that Molson Coors Brewing will post 4.33 earnings per share for the current year.
In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the transaction, the chief financial officer now directly owns 22,839 shares in the company, valued at approximately $1,807,706.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.76% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Dupont Capital Management Corp bought a new position in Molson Coors Brewing in the 3rd quarter worth about $103,000. Krilogy Financial LLC grew its stake in Molson Coors Brewing by 4,646.4% in the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after acquiring an additional 1,301 shares in the last quarter. Sun Life Financial INC boosted its stake in shares of Molson Coors Brewing by 14,900.0% during the second quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock valued at $117,000 after purchasing an additional 1,341 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Molson Coors Brewing during the third quarter valued at approximately $138,000. Finally, Advisor Group Inc. boosted its stake in shares of Molson Coors Brewing by 48.9% during the third quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock valued at $213,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.
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About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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