Molson Coors Brewing Company (TAP) PT Lowered to $102.00

Molson Coors Brewing Company (NYSE:TAP) had its price target dropped by stock analysts at Citigroup Inc. from $106.00 to $102.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s target price would indicate a potential upside of 27.88% from the stock’s previous close.

Several other brokerages also recently commented on TAP. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 target price on shares of Molson Coors Brewing in a report on Friday, July 14th. Cowen and Company reiterated a “hold” rating and issued a $96.00 target price on shares of Molson Coors Brewing in a report on Thursday, September 28th. BidaskClub upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, UBS AG restated a “neutral” rating and set a $98.00 price objective (up previously from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $98.92.

Shares of Molson Coors Brewing (NYSE:TAP) traded down $1.28 on Friday, reaching $79.76. 1,290,328 shares of the company traded hands, compared to its average volume of 1,604,274. The stock has a market cap of $17,027.11, a P/E ratio of 18.74 and a beta of 0.86.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The business’s quarterly revenue was up 204.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. equities analysts predict that Molson Coors Brewing will post 4.32 EPS for the current year.

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Several institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Molson Coors Brewing by 3.2% during the 2nd quarter. FMR LLC now owns 18,229,807 shares of the company’s stock valued at $1,573,961,000 after acquiring an additional 562,180 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Molson Coors Brewing by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock valued at $1,531,294,000 after acquiring an additional 429,859 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Molson Coors Brewing by 33.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock valued at $1,386,476,000 after acquiring an additional 4,001,480 shares in the last quarter. BlackRock Inc. boosted its position in shares of Molson Coors Brewing by 1.9% during the 2nd quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock valued at $939,033,000 after acquiring an additional 199,962 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Molson Coors Brewing by 33.0% during the 2nd quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock valued at $909,928,000 after acquiring an additional 2,616,561 shares in the last quarter. Institutional investors and hedge funds own 79.01% 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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