Molson Coors Brewing (TAP) Research Coverage Started at Barclays
Analysts at Barclays began coverage on shares of Molson Coors Brewing (NYSE:TAP) in a report released on Wednesday, The Fly reports. The firm set an “overweight” rating on the stock.
A number of other brokerages also recently commented on TAP. Berenberg Bank began coverage on shares of Molson Coors Brewing in a research report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 price objective for the company. Susquehanna Bancshares reissued a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, October 11th. Morgan Stanley began coverage on shares of Molson Coors Brewing in a research report on Tuesday. They issued an “equal weight” rating and a $88.00 price objective for the company. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Credit Suisse Group set a $92.00 price objective on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.17.
Molson Coors Brewing (NYSE TAP) opened at $83.63 on Wednesday. Molson Coors Brewing has a 12-month low of $76.25 and a 12-month high of $102.14. The firm has a market cap of $19,300.00, a price-to-earnings ratio of 8.06, a P/E/G ratio of 2.13 and a beta of 0.83. 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 announced its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 204.3% on a year-over-year basis. equities analysts forecast that Molson Coors Brewing will post 4.35 EPS for the current year.
In other 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 transaction of $79,150.00. Following the completion of the sale, the chief financial officer now owns 22,839 shares in the company, valued at approximately $1,807,706.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.76% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Baker Ellis Asset Management LLC lifted its stake in shares of Molson Coors Brewing by 4.9% during 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 last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Molson Coors Brewing in the 3rd quarter worth about $24,492,000. Strs Ohio raised 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 purchasing an additional 36,604 shares in the last quarter. Toronto Dominion Bank raised 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 purchasing an additional 10,087 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised 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 purchasing an additional 1,457 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.
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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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