Equities researchers at Morgan Stanley started coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report issued on Tuesday, Marketbeat.com reports. The firm set an “equal weight” rating and a $88.00 price target on the stock. Morgan Stanley’s price target points to a potential upside of 4.15% from the stock’s current price.
Several other equities analysts have also commented on the stock. Deutsche Bank started coverage on shares of Molson Coors Brewing in a research report on Wednesday, December 13th. They set a “buy” rating and a $89.00 price objective for the company. Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Berenberg Bank restated a “sell” rating and issued a $76.00 target price on shares of Molson Coors Brewing in a report on Friday, November 3rd. Citigroup lowered their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Finally, Susquehanna Bancshares restated a “buy” rating and issued a $108.00 target price (down previously from $118.00) on shares of Molson Coors Brewing in a report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $96.94.
Molson Coors Brewing (NYSE TAP) traded down $0.72 during mid-day trading on Tuesday, reaching $84.49. 904,066 shares of the company’s stock traded hands, compared to its average volume of 1,295,955. Molson Coors Brewing has a fifty-two week low of $76.25 and a fifty-two week high of $102.14. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $19,530.00, a price-to-earnings ratio of 8.14, a P/E/G ratio of 2.13 and a beta of 0.83.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.34. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the business earned $1.03 earnings per share. Molson Coors Brewing’s quarterly revenue was up 204.3% compared to the same quarter last year. research analysts anticipate that Molson Coors Brewing will post 4.35 EPS for the current fiscal year.
In related news, CFO Tracey Joubert sold 1,000 shares of the firm’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 owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.76% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Baker Ellis Asset Management LLC increased its stake in Molson Coors Brewing by 4.9% in the 3rd quarter. Baker Ellis Asset Management LLC now owns 35,086 shares of the company’s stock worth $2,864,000 after buying an additional 1,650 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Molson Coors Brewing in the 3rd quarter worth about $24,492,000. Strs Ohio increased its stake in Molson Coors Brewing by 6.4% in the 3rd quarter. Strs Ohio now owns 605,977 shares of the company’s stock worth $49,471,000 after buying an additional 36,604 shares during the period. Toronto Dominion Bank increased its stake in Molson Coors Brewing by 16.1% in the 3rd quarter. Toronto Dominion Bank now owns 72,691 shares of the company’s stock worth $5,934,000 after buying an additional 10,087 shares during the period. Finally, Commonwealth Equity Services Inc increased its stake in Molson Coors Brewing by 14.3% in the 3rd quarter. Commonwealth Equity Services Inc now owns 11,632 shares of the company’s stock worth $949,000 after buying an additional 1,457 shares during the period. 77.67% of the stock is currently owned by institutional investors.
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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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