Molson Coors Brewing PT Lowered to $58.00 (TAP)
Nomura cut their price target on shares of Molson Coors Brewing (NYSE:TAP) from $61.00 to $58.00 in a research note issued on Thursday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Nomura’s price objective indicates a potential upside of 17.69% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing (NYSE:TAP) in a research note to investors on Friday, August 9th. They now have a $56.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Molson Coors Brewing (NYSE:TAP) from $50.00 to $55.00 in a research note to investors on Wednesday, August 7th. They now have a “neutral” rating on the stock.
One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $51.90.
Molson Coors Brewing (NYSE:TAP) traded down 0.87% on Thursday, hitting $49.28. The stock had a trading volume of 830,533 shares. Molson Coors Brewing has a 52 week low of $39.46 and a 52 week high of $53.75. The stock has a 50-day moving average of $50.35 and a 200-day moving average of $49.92. The company has a market cap of $9.040 billion and a price-to-earnings ratio of 15.84.
Molson Coors Brewing (NYSE:TAP) last released its earnings data on Tuesday, August 6th. The company reported $1.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.38 by $0.13. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $1.38 earnings per share. Molson Coors Brewing’s revenue was up 17.9% compared to the same quarter last year. Analysts expect that Molson Coors Brewing will post $3.99 EPS for the current fiscal year.
In other Molson Coors Brewing news, Chairman Peter Coors sold 41,600 shares of Molson Coors Brewing stock on the open market in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.46, for a total value of $2,057,536.00. Following the completion of the transaction, the chairman now directly owns 157,460 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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