Credit Suisse Group Analysts Give Molson Coors Brewing Company (TAP) a $92.00 Price Target
Molson Coors Brewing Company (NYSE:TAP) has been given a $92.00 price objective by research analysts at Credit Suisse Group in a report issued on Friday. The firm currently has a “hold” rating on the stock. Credit Suisse Group’s price objective indicates a potential upside of 12.69% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Cowen and Company reiterated a “hold” rating and set a $96.00 price objective on shares of Molson Coors Brewing in a research report on Thursday. Susquehanna Bancshares Inc reaffirmed a “buy” rating and issued a $108.00 target price (down from $118.00) on shares of Molson Coors Brewing in a research note on Friday, September 22nd. Berenberg Bank started coverage on Molson Coors Brewing in a report on Wednesday, September 13th. They set a “sell” rating and a $78.00 price target on the stock. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, UBS AG reissued a “neutral” rating and issued a $98.00 price objective (up previously from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $107.02.
Molson Coors Brewing (NYSE:TAP) traded up 0.60% during midday trading on Friday, hitting $82.13. The stock had a trading volume of 677,112 shares. Molson Coors Brewing has a 12-month low of $80.92 and a 12-month high of $112.19. The firm has a 50-day moving average of $89.50 and a 200-day moving average of $91.77. The company has a market cap of $17.68 billion, a PE ratio of 8.20 and a beta of 0.89.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.38). The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.11 earnings per share. Equities research analysts forecast that Molson Coors Brewing will post $4.31 EPS for the current year.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the sale, the chief executive officer now directly owns 99,217 shares in the company, valued at $9,118,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.76% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TAP. Lord Abbett & CO. LLC grew its stake in Molson Coors Brewing by 35.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 744,777 shares of the company’s stock worth $64,304,000 after purchasing an additional 194,000 shares in the last quarter. WFG Advisors LP raised its position in Molson Coors Brewing by 14.0% in the 2nd quarter. WFG Advisors LP now owns 3,938 shares of the company’s stock valued at $340,000 after purchasing an additional 483 shares in the last quarter. Toronto Dominion Bank raised its position in Molson Coors Brewing by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 62,604 shares of the company’s stock valued at $5,404,000 after purchasing an additional 12,804 shares in the last quarter. Verition Fund Management LLC raised its position in Molson Coors Brewing by 31.1% in the 2nd quarter. Verition Fund Management LLC now owns 7,373 shares of the company’s stock valued at $637,000 after purchasing an additional 1,750 shares in the last quarter. Finally, National Asset Management Inc. raised its position in Molson Coors Brewing by 8.1% in the 2nd quarter. National Asset Management Inc. now owns 2,868 shares of the company’s stock valued at $248,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.
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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