Molson Coors Brewing (NYSE:TAP) Price Target Cut to $38.00 by Analysts at Morgan Stanley

Molson Coors Brewing (NYSE:TAP) had its price objective reduced by Morgan Stanley from $41.00 to $38.00 in a research report sent to investors on Wednesday morning, Analyst Ratings Network reports. They currently have an equal weight rating on the stock.

Several other brokerages also recently weighed in on TAP. Guggenheim lifted their target price on shares of Molson Coors Brewing from $58.00 to $62.00 and gave the company a buy rating in a report on Wednesday, October 7th. Bryan, Garnier & Co upgraded shares of Molson Coors Brewing from a sell rating to a buy rating and set a $49.00 price objective for the company in a research note on Wednesday, July 15th. Zacks Investment Research upgraded shares of Molson Coors Brewing from a hold rating to a strong-buy rating and set a $38.00 price objective for the company in a research note on Monday, September 28th. Barclays reiterated a hold rating and issued a $40.00 price objective on shares of Molson Coors Brewing in a research note on Sunday, July 19th. Finally, ValuEngine cut shares of Molson Coors Brewing from a sell rating to a strong sell rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $47.07.

Shares of NYSE:TAP opened at $35.40 on Wednesday. The company has a market cap of $7.67 billion, a price-to-earnings ratio of -47.20, a PEG ratio of 1.59 and a beta of 0.86. The firm’s 50-day simple moving average is $35.45 and its 200-day simple moving average is $37.82. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Molson Coors Brewing has a fifty-two week low of $32.11 and a fifty-two week high of $61.94.

Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Thursday, July 30th. The company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.87. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.40 billion. Molson Coors Brewing had a negative net margin of 1.33% and a positive return on equity of 7.18%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, research analysts forecast that Molson Coors Brewing will post 3.69 EPS for the current year.

In other Molson Coors Brewing news, Director Louis Vachon bought 3,000 shares of the business’s stock in a transaction on Monday, September 14th. The stock was bought at an average price of $35.28 per share, for a total transaction of $105,840.00. Following the completion of the transaction, the director now owns 26,467 shares in the company, valued at approximately $933,755.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.43% of the company’s stock.

Several large investors have recently bought and sold shares of TAP. Invesco Ltd. raised its position in shares of Molson Coors Brewing by 28.6% in the first quarter. Invesco Ltd. now owns 4,180,398 shares of the company’s stock valued at $163,078,000 after buying an additional 930,257 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Molson Coors Brewing by 65.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,305,242 shares of the company’s stock valued at $79,208,000 after buying an additional 910,407 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Molson Coors Brewing by 373.5% in the second quarter. Retirement Systems of Alabama now owns 951,007 shares of the company’s stock valued at $32,677,000 after buying an additional 750,165 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Molson Coors Brewing in the third quarter valued at approximately $25,112,000. Finally, LSV Asset Management raised its position in shares of Molson Coors Brewing by 14.2% in the second quarter. LSV Asset Management now owns 5,676,772 shares of the company’s stock valued at $195,053,000 after buying an additional 707,444 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

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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