Deutsche Bank Begins Coverage on Molson Coors Brewing (TAP)
Deutsche Bank assumed coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $89.00 target price on the stock.
TAP has been the topic of several other research reports. Susquehanna Bancshares set a $118.00 price target on shares of Molson Coors Brewing and gave the stock a buy rating in a report on Tuesday, August 29th. Citigroup decreased their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a buy rating on the stock in a report on Friday, November 3rd. Zacks Investment Research cut shares of Molson Coors Brewing from a hold rating to a sell rating in a report on Tuesday, October 10th. Credit Suisse Group set a $92.00 price target on shares of Molson Coors Brewing and gave the stock a hold rating in a report on Friday, September 29th. Finally, Berenberg Bank assumed coverage on shares of Molson Coors Brewing in a report on Wednesday, September 13th. They issued a sell rating and a $78.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing has an average rating of Hold and an average target price of $98.02.
Molson Coors Brewing (TAP) opened at $79.80 on Wednesday. The firm has a market cap of $17,096.30, a price-to-earnings ratio of 18.81, a PEG ratio of 2.32 and a beta of 0.83. Molson Coors Brewing has a 1-year low of $76.25 and a 1-year high of $102.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.54.
Molson Coors Brewing (NYSE:TAP) last released its quarterly 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 firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The business’s quarterly revenue was up 204.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. research analysts expect that Molson Coors Brewing will post 4.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a yield of 2.06%. Molson Coors Brewing’s dividend payout ratio is presently 15.83%.
In related news, CFO Tracey Joubert sold 1,000 shares of the stock in a transaction on Friday, December 1st. The stock was 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 $1,807,706.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.76% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TAP. Dupont Capital Management Corp bought a new position in Molson Coors Brewing in the third quarter valued at $103,000. Bessemer Group Inc. increased its stake in Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after acquiring an additional 140 shares during the last quarter. Krilogy Financial LLC grew its stake in shares of Molson Coors Brewing by 4,646.4% during the second 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 during the last quarter. Sun Life Financial INC grew 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 buying an additional 1,341 shares during the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of Molson Coors Brewing by 30.4% during the second quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock valued at $134,000 after buying an additional 364 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.
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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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