Shares of Molson Coors Brewing Company (NYSE:TAP) have received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $98.92.
Several equities research analysts have recently commented on the stock. Susquehanna Bancshares set a $118.00 price target on shares of Molson Coors Brewing and gave the company a “buy” rating in a research report on Tuesday, August 29th. Credit Suisse Group set a $96.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Thursday, August 3rd. Citigroup reduced their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Zacks Investment Research downgraded Molson Coors Brewing from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Berenberg Bank began 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.
Hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in Molson Coors Brewing by 12.8% in the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after purchasing an additional 140 shares during the period. Dupont Capital Management Corp bought a new position in Molson Coors Brewing in the 3rd quarter worth approximately $103,000. Krilogy Financial LLC boosted its stake in Molson Coors Brewing by 4,646.4% in the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after purchasing an additional 1,301 shares during the period. Sun Life Financial INC boosted its stake in 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 worth $117,000 after purchasing an additional 1,341 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in Molson Coors Brewing by 30.4% in the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after purchasing an additional 364 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.34. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 204.3% compared to the same quarter last year. sell-side analysts anticipate that Molson Coors Brewing will post 4.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.10%. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 15.83%.
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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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