Molson Coors Brewing (TAP) Lifted to Outperform at Credit Suisse Group

Molson Coors Brewing (NYSE:TAP) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $96.00 target price on the stock, up from their previous target price of $94.00. Credit Suisse Group’s target price suggests a potential upside of 17.83% from the company’s previous close.

TAP has been the subject of a number of other reports. Morgan Stanley assumed coverage on shares of Molson Coors Brewing in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $88.00 target price for the company. Berenberg Bank upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 target price for the company in a report on Thursday, February 8th. BMO Capital Markets assumed coverage on shares of Molson Coors Brewing in a report on Monday, February 5th. They issued an “outperform” rating and a $95.00 target price for the company. Citigroup lowered their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $116.00 target price on shares of Molson Coors Brewing in a report on Friday, December 22nd. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $96.61.

Molson Coors Brewing (TAP) traded down $0.27 during trading on Monday, reaching $81.47. 1,706,587 shares of the company were exchanged, compared to its average volume of 1,522,024. Molson Coors Brewing has a 52-week low of $72.71 and a 52-week high of $102.14. The stock has a market capitalization of $18,820.00, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.54 and a debt-to-equity ratio of 0.79.

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Molson Coors Brewing’s revenue was up 4.5% compared to the same quarter last year. analysts anticipate that Molson Coors Brewing will post 4.95 EPS for the current fiscal year.

In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the sale, the chief financial officer now directly owns 22,839 shares in the company, valued at $1,807,706.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the sale, the chairman now owns 319,222 shares of the company’s stock, valued at $27,137,062.22. The disclosure for this sale can be found here. 2.76% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WealthPLAN Partners LLC purchased a new stake in Molson Coors Brewing during the fourth quarter worth approximately $212,000. Meitav Dash Investments Ltd. purchased a new stake in Molson Coors Brewing during the fourth quarter worth approximately $410,000. MetLife Investment Advisors LLC acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth $4,692,000. Gotham Asset Management LLC lifted its position in shares of Molson Coors Brewing by 25.8% during the fourth quarter. Gotham Asset Management LLC now owns 255,417 shares of the company’s stock worth $20,962,000 after purchasing an additional 52,387 shares in the last quarter. Finally, Jump Trading LLC acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth $466,000. Institutional investors own 76.90% of the company’s stock.

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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.

Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

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