Molson Coors Brewing Co Class B (TAP) Receives Average Rating of “Hold” from Brokerages
Molson Coors Brewing Co Class B (NYSE:TAP) has received a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $76.38.
A number of research analysts recently issued reports on TAP shares. Jefferies Financial Group started coverage on shares of Molson Coors Brewing Co Class B in a research note on Friday, September 7th. They issued an “underperform” rating and a $55.00 target price on the stock. Citigroup decreased their price target on shares of Molson Coors Brewing Co Class B from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, August 27th. Morgan Stanley raised their price target on shares of Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. Berenberg Bank set a $67.00 price target on shares of Molson Coors Brewing Co Class B and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research upgraded shares of Molson Coors Brewing Co Class B from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th.
In other news, insider Krishnan Anand sold 2,595 shares of Molson Coors Brewing Co Class B stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $64.96, for a total transaction of $168,571.20. Following the sale, the insider now directly owns 49,946 shares in the company, valued at approximately $3,244,492.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.55% of the stock is currently owned by insiders.
NYSE:TAP traded down $0.02 during midday trading on Thursday, reaching $62.25. The stock had a trading volume of 14,895 shares, compared to its average volume of 1,721,508. Molson Coors Brewing Co Class B has a 1-year low of $58.75 and a 1-year high of $85.86. The company has a current ratio of 0.66, a quick ratio of 0.51 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $13.34 billion, a PE ratio of 13.95, a PEG ratio of 2.50 and a beta of 0.72.
Molson Coors Brewing Co Class B (NYSE:TAP) last posted its earnings results on Wednesday, August 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. Molson Coors Brewing Co Class B had a net margin of 11.68% and a return on equity of 6.97%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business posted $1.70 EPS. Molson Coors Brewing Co Class B’s revenue was down .2% compared to the same quarter last year. analysts anticipate that Molson Coors Brewing Co Class B will post 4.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were given a dividend of $0.41 per share. The ex-dividend date was Thursday, August 30th. This represents a $1.64 annualized dividend and a dividend yield of 2.63%. Molson Coors Brewing Co Class B’s dividend payout ratio (DPR) is currently 36.69%.
About Molson Coors Brewing Co Class B
Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.
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