Cowen and Company reissued their hold rating on shares of Molson Coors Brewing Company (NYSE:TAP) in a research note published on Friday, July 14th. They currently have a $96.00 price target on the stock.
Other equities research analysts have also issued reports about the company. Susquehanna Bancshares Inc set a $140.00 price objective on Molson Coors Brewing and gave the stock a buy rating in a research report on Monday, March 20th. J P Morgan Chase & Co assumed coverage on Molson Coors Brewing in a research report on Tuesday, March 21st. They set a neutral rating and a $105.00 price objective for the company. Stifel Nicolaus restated a buy rating and set a $111.00 price objective on shares of Molson Coors Brewing in a research report on Friday, July 14th. BidaskClub lowered Molson Coors Brewing from a sell rating to a strong sell rating in a research report on Thursday, June 22nd. Finally, Societe Generale lowered Molson Coors Brewing from a buy rating to a hold rating and reduced their price target for the company from $118.00 to $98.00 in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $111.60.
Shares of Molson Coors Brewing (NYSE TAP) opened at 90.40 on Friday. Molson Coors Brewing has a 52-week low of $85.34 and a 52-week high of $112.19. The stock has a market capitalization of $19.46 billion, a PE ratio of 9.03 and a beta of 0.91. The firm has a 50-day moving average of $88.12 and a 200 day moving average of $93.49.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by $0.38. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. Molson Coors Brewing ‘s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 earnings per share. Equities research analysts forecast that Molson Coors Brewing will post $4.31 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is currently 16.38%.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total value of $1,582,058.50. Following the transaction, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.53% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Amica Retiree Medical Trust purchased a new stake in Molson Coors Brewing during the first quarter worth about $105,000. Penserra Capital Management LLC boosted its stake in Molson Coors Brewing by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock worth $114,000 after buying an additional 104 shares in the last quarter. Bessemer Group Inc. boosted its stake in Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after buying an additional 140 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Molson Coors Brewing during the first quarter valued at approximately $130,000. Finally, Lloyds Banking Group plc bought a new stake in shares of Molson Coors Brewing during the first quarter valued at approximately $154,000. Institutional investors and hedge funds own 79.50% of the company’s stock.
Molson Coors Brewing Company Profile
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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