Zacks Investment Research upgraded shares of Molson Coors Brewing Company (NYSE:TAP) from a sell rating to a hold rating in a research report released on Tuesday, October 17th.
According to Zacks, “Shares of Molson Coors have declined and underperformed the industry in the past six months. Though the acquisition of the Miller global brands has boosted sales in Europe and international regions, Molson Coors has been posting negative beer volumes in the U.S. and Canada for quite some time now. Aging population and stiff competition have been significant contributors to the declining state of the beer industry. Molson Coors is also exposed to significant currency headwinds, with a major portion of its revenues coming from outside the U.S. Nevertheless, Molson Coors has undertaken several restructuring initiatives to reduce overhead costs and boost profitability. The company is expanding its global footprint through acquisitions and agreements. It is also focusing on above-premium brands to help grow its market share. However, estimates have recently declined ahead of the company’s third-quarter 2017 earnings release.”
Several other analysts have also issued reports on TAP. BidaskClub lowered Molson Coors Brewing from a sell rating to a strong sell rating in a research note on Thursday, June 22nd. UBS AG reissued a neutral rating and set a $98.00 price objective (up previously from $96.00) on shares of Molson Coors Brewing in a research note on Thursday, August 3rd. Susquehanna Bancshares Inc reissued a buy rating and set a $108.00 price objective (down previously from $118.00) on shares of Molson Coors Brewing in a research note on Friday, September 22nd. Stifel Nicolaus reissued a buy rating and set a $111.00 price objective on shares of Molson Coors Brewing in a research note on Friday, July 14th. Finally, Berenberg Bank initiated coverage on Molson Coors Brewing in a research note on Wednesday, September 13th. They set a sell rating and a $78.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $98.92.
Shares of Molson Coors Brewing (NYSE TAP) traded down $1.13 on Tuesday, hitting $78.63. The stock had a trading volume of 758,991 shares, compared to its average volume of 1,625,426. Molson Coors Brewing has a 12-month low of $78.10 and a 12-month high of $106.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. The company has a market capitalization of $17,173.53, a PE ratio of 18.90, a PEG ratio of 2.34 and a beta of 0.86.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.34. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Molson Coors Brewing ‘s revenue was up 204.3% on a year-over-year basis. equities analysts expect that Molson Coors Brewing will post 4.33 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in shares of Molson Coors Brewing in the third quarter worth $7,835,000. Advisor Group Inc. boosted its position in shares of Molson Coors Brewing by 48.9% during the third quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock valued at $213,000 after buying an additional 853 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Molson Coors Brewing by 16.1% during the third quarter. Toronto Dominion Bank now owns 72,691 shares of the company’s stock valued at $5,934,000 after buying an additional 10,087 shares during the last quarter. CI Investments Inc. boosted its position in shares of Molson Coors Brewing by 27.1% during the third quarter. CI Investments Inc. now owns 1,084,165 shares of the company’s stock valued at $88,511,000 after buying an additional 230,887 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Molson Coors Brewing by 5.7% during the third quarter. New York State Common Retirement Fund now owns 399,300 shares of the company’s stock valued at $32,599,000 after buying an additional 21,700 shares during the last quarter. 79.06% of the stock is currently owned by hedge funds and other institutional investors.
Molson Coors Brewing Company Profile
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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