Molson Coors Brewing Co (NYSE:TAP) has been given an average rating of “Hold” by the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $63.33.
TAP has been the subject of a number of recent analyst reports. Guggenheim lowered their price target on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Bank of America lowered Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research report on Monday, July 15th. Credit Suisse Group initiated coverage on Molson Coors Brewing in a report on Monday, June 10th. They set an “underperform” rating and a $50.00 target price on the stock. BMO Capital Markets upped their target price on Molson Coors Brewing to $65.00 in a report on Thursday, August 1st. Finally, ValuEngine downgraded Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a report on Wednesday.
Shares of NYSE TAP traded up $0.08 during midday trading on Thursday, reaching $56.46. The company had a trading volume of 25,778 shares, compared to its average volume of 1,686,792. Molson Coors Brewing has a one year low of $49.92 and a one year high of $67.62. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $52.74 and its 200-day moving average price is $57.01. The stock has a market cap of $12.25 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 2.35 and a beta of 0.76.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.13). The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.03 billion. Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.88 EPS. As a group, equities research analysts expect that Molson Coors Brewing will post 4.36 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.57 per share. This is an increase from Molson Coors Brewing’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, August 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.04%. Molson Coors Brewing’s dividend payout ratio is 45.24%.
Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Molson Coors Brewing by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 2,550,361 shares of the company’s stock worth $142,989,000 after buying an additional 194,378 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Molson Coors Brewing by 6.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,430 shares of the company’s stock worth $384,000 after buying an additional 382 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Molson Coors Brewing by 155.5% in the 1st quarter. Janus Henderson Group PLC now owns 107,272 shares of the company’s stock worth $6,399,000 after buying an additional 65,292 shares during the last quarter. Comerica Bank grew its stake in shares of Molson Coors Brewing by 48.0% in the 1st quarter. Comerica Bank now owns 68,860 shares of the company’s stock worth $4,090,000 after buying an additional 22,336 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. grew its stake in shares of Molson Coors Brewing by 4.3% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 5,598 shares of the company’s stock worth $334,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 76.27% of the company’s stock.
About Molson Coors Brewing
Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.
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