Molson Coors Brewing (TAP) – Investment Analysts’ Recent Ratings Updates
Several brokerages have updated their recommendations and price targets on shares of Molson Coors Brewing (NYSE: TAP) in the last few weeks:
- 10/3/2017 – Molson Coors Brewing was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. 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, volume continued to decline in Canada. Sales in Canada have been negatively impacted by an overall weak industry performance, ongoing competitive pressures in Quebec and Ontario, along with a continued shift in consumer preference to value brands in the West. In fact, aging population, a stalled economy and stiff competition have been the main contributors to the declining state of the beer industry. However, the company is, therefore, focusing on above-premium brands to help grow its market share. Moreover, Molson Coors has undertaken restructuring initiatives to reduce overhead costs as well as expanding its global footprint through acquisitions. Estimates have been largely stable ahead of the company’s third-quarter 2017 earnings release.”
- 9/29/2017 – Molson Coors Brewing was given a new $92.00 price target on by analysts at Credit Suisse Group. They now have a “hold” rating on the stock.
- 9/28/2017 – Molson Coors Brewing had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $96.00 price target on the stock.
- 9/22/2017 – Molson Coors Brewing had its “buy” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $108.00 price target on the stock, down previously from $118.00.
- 9/13/2017 – Molson Coors Brewing is now covered by analysts at Berenberg Bank. They set a “sell” rating and a $78.00 price target on the stock.
- 8/29/2017 – Molson Coors Brewing was given a new $118.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “buy” rating on the stock.
- 8/26/2017 – Molson Coors Brewing was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 8/9/2017 – Molson Coors Brewing had its “neutral” rating reaffirmed by analysts at UBS AG. They now have a $98.00 price target on the stock, up previously from $96.00.
- 8/8/2017 – Molson Coors Brewing was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Shares of Molson Coors have declined in comparison to the industry over the last three months. Estimates have also declined steeply since Molson Coors reported weaker-than-expected earnings in the second quarter of 2017, though it increased 3.1% driven by increased brand volume, higher net pricing, positive sales mix, cost savings and lower marketing spending. Revenues marginally beat the Zacks Consensus Estimate and dipped 0.6% year over year due to currency headwinds. While we are encouraged with the acquisition of the Miller global brands which has boosted international sales, the company has been struggling with weak sales trends for the last few years. The company is therefore focusing on above-premium brands to help grow its market share. Further, the company’s recent agreements with Heineken and Hornell Brewing are expected to enhance its portfolio. However, a difficult economy and competitive pressure continues to remain headwinds.”
Molson Coors Brewing Company (TAP) opened at 81.92 on Wednesday. The firm’s 50-day moving average is $87.14 and its 200-day moving average is $90.67. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 8.18 and a beta of 0.88. Molson Coors Brewing Company has a 52-week low of $80.92 and a 52-week high of $112.19.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.38). Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company posted $1.11 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Analysts forecast that Molson Coors Brewing Company will post $4.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.00%. The ex-dividend date was Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is currently 16.38%.
In other news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the completion of the transaction, the chief executive officer now owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.76% of the company’s stock.
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.
Receive News & Ratings for Molson Coors Brewing Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Company and related companies with MarketBeat.com's FREE daily email newsletter.