Molson Coors Brewing ‘s (TAP) Buy Rating Reaffirmed at Susquehanna Bancshares Inc

Molson Coors Brewing Company (NYSE:TAP)‘s stock had its “buy” rating reaffirmed by stock analysts at Susquehanna Bancshares Inc in a research report issued on Friday. They currently have a $108.00 price objective on the stock. Susquehanna Bancshares Inc’s price objective would indicate a potential upside of 30.42% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Berenberg Bank assumed coverage on Molson Coors Brewing in a report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 target price for the company. BidaskClub upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. UBS AG reiterated a “neutral” rating and issued a $98.00 target price (up from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Credit Suisse Group set a $96.00 target price on Molson Coors Brewing and gave the stock a “hold” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $107.35.

Molson Coors Brewing (NYSE TAP) traded up 0.006% during trading on Friday, reaching $82.815. The company’s stock had a trading volume of 598,027 shares. The firm’s 50-day moving average price is $89.50 and its 200 day moving average price is $91.77. The company has a market capitalization of $17.83 billion, a P/E ratio of 8.273 and a beta of 0.90. Molson Coors Brewing has a 12-month low of $82.51 and a 12-month high of $112.19.

Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by ($0.38). Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. Molson Coors Brewing ‘s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing will post $4.30 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This report was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://transcriptdaily.com/2017/09/22/molson-coors-brewing-s-tap-buy-rating-reaffirmed-at-susquehanna-bancshares-inc.html.

In related news, CEO Gavin Hattersley sold 17,215 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the completion of the sale, the chief executive officer now directly owns 99,217 shares in the company, valued at approximately $9,118,042.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.76% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TAP. Penserra Capital Management LLC increased its position in Molson Coors Brewing by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after buying an additional 104 shares in the last quarter. Bessemer Group Inc. increased its position in Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after buying an additional 140 shares in the last quarter. Krilogy Financial LLC increased its position in Molson Coors Brewing by 4,646.4% during the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock valued at $115,000 after buying an additional 1,301 shares in the last quarter. Sun Life Financial INC increased its position in Molson Coors Brewing by 14,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock valued at $117,000 after buying an additional 1,341 shares in the last quarter. Finally, Korea Investment CORP increased its position in Molson Coors Brewing by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after buying an additional 1,027 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Molson Coors Brewing Company Profile

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.

Analyst Recommendations for Molson Coors Brewing  (NYSE:TAP)

Receive News & Ratings for Molson Coors Brewing Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply