Berenberg Bank reiterated their sell rating on shares of Molson Coors Brewing Company (NYSE:TAP) in a research note released on Friday, November 3rd. Berenberg Bank currently has a $76.00 target price on the stock.
Several other research firms have also recently issued reports on TAP. Cowen and Company restated a hold rating and set a $96.00 target price on shares of Molson Coors Brewing in a research note on Friday, July 14th. Stifel Nicolaus reissued a buy rating and issued a $111.00 target price on shares of Molson Coors Brewing in a report on Friday, July 14th. Zacks Investment Research lowered shares of Molson Coors Brewing from a hold rating to a strong sell rating in a report on Tuesday, August 8th. UBS AG reiterated a neutral rating and set a $98.00 target price (up from $96.00) on shares of Molson Coors Brewing in a research report on Thursday, August 3rd. Finally, Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the company a hold rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing presently has an average rating of Hold and an average price target of $98.92.
Molson Coors Brewing (NYSE TAP) traded down $1.73 on Friday, hitting $78.79. 1,435,500 shares of the stock traded hands, compared to its average volume of 1,620,445. The firm has a market capitalization of $17,344.01, a PE ratio of 19.08, a PEG ratio of 2.36 and a beta of 0.86. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. Molson Coors Brewing has a 52 week low of $78.10 and a 52 week high of $102.14.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.34. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Molson Coors Brewing had a net margin of 9.93% and a return on equity of 9.14%. The business’s quarterly revenue was up 204.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. equities research analysts anticipate that Molson Coors Brewing will post 4.34 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. grew its stake in Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after buying an additional 140 shares during the last quarter. Dupont Capital Management Corp purchased a new position in Molson Coors Brewing during the 3rd quarter worth approximately $103,000. Krilogy Financial LLC grew its stake in shares of Molson Coors Brewing by 4,646.4% in the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock valued at $115,000 after purchasing 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% in the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock valued at $117,000 after purchasing 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% in the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock valued at $134,000 after purchasing an additional 364 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.
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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