Molson Coors Brewing Company Receives Consensus Rating of “Buy” from Analysts (NYSE:TAP)
Molson Coors Brewing Company (NYSE:TAP) has been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the company, AR Network reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $66.14.
TAP has been the subject of a number of recent research reports. Analysts at ISI Group upgraded shares of Molson Coors Brewing Company from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $75.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. Separately, analysts at Morgan Stanley raised their price target on shares of Molson Coors Brewing Company from $54.00 to $58.00 in a research note on Wednesday. Finally, analysts at Societe Generale raised their price target on shares of Molson Coors Brewing Company from $57.00 to $65.00 in a research note on Friday, May 9th.
Molson Coors Brewing Company (NYSE:TAP) traded up 2.31% on Friday, hitting $65.20. The stock had a trading volume of 1,367,409 shares. Molson Coors Brewing Company has a 1-year low of $46.94 and a 1-year high of $64.25. The stock’s 50-day moving average is $59.90 and its 200-day moving average is $56.29. The company has a market cap of $12.046 billion and a P/E ratio of 16.78.
Molson Coors Brewing Company (NYSE:TAP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $816.00 million for the quarter, compared to the consensus estimate of $818.43 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Company will post $4.28 earnings per share for the current fiscal year.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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